Section 338A Board Resolution To Consider Including Matter In Business Of Agm Requisitioned By Members
Publisher one
Genie AIJurisdiction
England and WalesCost
Free to useRelevant sectors
Type of legal document
✉️ Board resolutionBusiness activity
Approve requisitionA board resolution is a formal document that records the decisions made by a board of directors or shareholders. The resolution is used to provide evidence of the board's authority to take certain actions. The resolution may also be used to delegate authority to officers or employees of the company.
The template is designed to assist companies in documenting a board resolution that addresses such a requisition made by members. It outlines the specific procedures and considerations that the board of directors must follow when evaluating the requested matter's inclusion in the AGM's agenda.
The template would typically include the following sections:
1. Introduction: This section provides an overview of the purpose and context of the template, highlighting the relevant legal provisions and obligations imposed by Section 338A.
2. Requisition Details: Here, the template prompts the company to provide a summary of the requisition made by members, including the specific matter requested to be included in the AGM's business.
3. Board Consideration: This section outlines the steps to be taken by the board when evaluating the requisition. It may include requirements to seek legal advice, assess the matter's legality and materiality, and consider its potential impact on the company and its shareholders.
4. Decision-Making Process: The template instructs the board to determine whether the requisitioned matter should be included in the AGM's agenda or be excluded, with adequate justifications for the decision reached. It may also address procedural steps for notifying members of the board's decision.
5. Implementation and Documentation: This section guides the company on the necessary steps to implement the board's decision and appropriately document it in board minutes, annual reports, or any other relevant documentation.
It's important to note that specific legal advice should be sought when using this template, as it merely serves as a starting point and should be customized to comply with the specific circumstances and intricacies of the company's situation and applicable UK laws and regulations.
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