Company decision making

Question 1

What does a company need to update when a shareholder changes category terms on the PSC (persons with significant control) register?

Answer 1

The internal and external register, within 14 days.

Question 1

What percentage of shares and shareholders must be in favour to call a general meeting on short notice?

Answer 1

At least 90% of shares and the majority of shareholders.

Question 2

If a shareholder is absent for a general meeting what happens to their shares?

Answer 2

They will be ignored

Question 3

What is required when a company enters into a substantial property transaction with a director or connected persons?

Answer 3

The shareholders must pass an ordinary resolution

Question 4

What must be filed with the Registrar of Companies following a change of name?

Answer 4

A prescribed form, the shareholders’ special resolution to change the name and the prescribed fee.

Question 5

When does a change of the articles of association take effect?

Answer 5

After the special resolution it takes effect immediately.
Then it must be sent to the Registrar of Companies within 15 days.

Question 6

For a written resolution when does a special resolution pass?

Answer 6

When 75% of total eligible voting rights have voted in favour (shareholders’ shares who are unavailable are still included, unlike GMs)

Question 7

What needs to be filed to the Registrar of Companies following the appointment of a new director and what’s the deadline?

Answer 7

A copy of the relevant form (AP01) within 14 days of appointment

Question 8

What is the notice period for a GM sent by email

Answer 8

14 clear days + 48hours to allow for receipt