Have your getting confuse when should be the time to write resolutions and how it should work?
1. What is Ordinary Resolution?
a. An ordinary resolution signed by a simple majority of the members;
b. Passed through who are present at meeting.
2. What is Special Resolution?
a. A special resolution signed by 75% of majority of the members;
b. A notice not less than 21 days.
3. When the Company needs an Ordinary Resolution?
a. Shares Allotment;
b. Revoking of grants of rights;
c. Alteration of share capital;
d. Shares conversion from paid-up to stock and reconvert;
e. Recommendations of members;
f. Appointment, resignation and removal of directors;
g. Acquisition and disposal of substantial portion of company’s undertaking of property;
h. Loan scheme to Directors;
i. Authorization of loans making, guarantee and provision of security of the purpose of expenditure;
j. Payment for loss of office to the Directors & transactions;
k. Approval of Directors’ fees;
l. Appointment of Auditor, removal and remuneration;
m. Proxy as chairperson of a meeting of members;
n. Authorizing of instruments;
o. Voluntary arrangement in meeting of members;
p. Application to Court for judicial management;
q. Voluntary winding up if the company is solvent;
r. Removal of a member of the committee of inspection.
4. When the Company needs a Special Resolution?
a. Change of company’s name;
b. Adoption, alteration & amendment of constitution;
c. Conversion from Sdn. to Sdn. Bhd.;
d. Conversion from Private to Public or Public to Private;
e. Variation of rights in the shares;
f. Capital Reduction: by Court or supported by Solvency Statement;
g. The Company is giving financial support to acquire of shares (non- Bursa);
h. Payment of interest through issuance of shares in paying expenses of the constructions;
i. Binding of recommendations;
j. Voluntary winding up;
k. Removal of auditor unless Court in ordering not to remove;
l. Conferring general authority to a liquidator;
m. Company is going to be wound up by the Court.