IVAN, THANKS FOR THE INFO. THE 100 SHARHOLDER RULE WAS CHANGED A COUPLE OF YEARS AGO.
BELOW IS SECTION 249D OF THE CORPORATIONS ACT WHICH IS NOW THE LAW REGARDING MEETINGS AS FAR AS I AM AWARE. I DON'T KNOW WHO PAYS IF IT IS CALLED UNDER 249D BUT UNDER 249F, THOSE WHO CALL IT MUST PAY FOR IT.
PERHAPS WE ALSO NEED SOME PRO BONO LEGAL ADVICE IF THERE ARE ANY CORPORATE LAYWERS OUT THERE WHO WANT TO ASSIST.
CORPORATIONS ACT 2001 - SECT 249D
Calling of general meeting by directors when requested by members (1) The directors of a company must call and arrange to hold a general meeting on the request of members with at least 5% of the votes that may be cast at the general meeting. (2) The request must: (a) be in writing; and (b) state any resolution to be proposed at the meeting; and (c) be signed by the members making the request; and (d) be given to the company. (3) Separate copies of a document setting out the request may be used for signing by members if the wording of the request is identical in each copy. (4) The percentage of votes that members have is to be worked out as at the midnight before the request is given to the company. (5) The directors must call the meeting within 21 days after the request is given to the company. The meeting is to be held not later than 2 months after the request is given to the company.
CORPORATIONS ACT 2001 - SECT 249F
Calling of general meetings by members (1) Members with at least 5% of the votes that may be cast at a general meeting of the company may call, and arrange to hold, a general meeting. The members calling the meeting must pay the expenses of calling and holding the meeting. (2) The meeting must be called in the same way--so far as is possible--in which general meetings of the company may be called. (3) The percentage of votes that members have is to be worked out as at the midnight before the meeting is called.
ARI Price at posting:
2.2¢ Sentiment: None Disclosure: Held