Great find Cos
So from these 2 resolutions what are Management of FMS looking to do??????
Ordinary resolutions
Ordinary resolutions are not specifically defined in the Corporations Act and need only a simple majority (i.e. normally, more than 50% of votes cast in favour) to pass.
Some decisions that may only require an ordinary resolution include:
Special resolutions
- election/re-election of directors
- appointment of an auditor
- acceptance of reports at the general meeting
- strategic or commercial decisions
- increasing or reducing number of directors
- passing a board limit resolution (for public companies).
Special resolutions are needed for certain changes as defined in the Corporations Act. Decisions like changing a company's name, winding up the company, or changing the company's type will require a special resolution.
We must demand a special resolution!!!!!!!
L4L
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