Exam (elaborations)
LML4806 Assignment 1 Semester 2 2023
- Institution
- University Of South Africa
latest questions and elaborate answers
[Show more]
Content preview
LML4806 Assignment 1Semester 2 2023
QUESTIONS AND
ELABORATE
ANSWERS
For assignment help and inquiries
Email: smartwritingcompany@gmail.com
WhatsApp: +254704997747
, Question: 1
Shareholders’ resolutions must usually be voted on at properly constituted
meetings of the company’s shareholders. However, the Companies Act 71 of 2008
provides for an exception to this general rule. Explain what this exception under
the Companies Act 71 of 2008 entails. (5)
Under the Companies Act 71 of 2008, there is an exception to the general
rule that shareholders' resolutions must be voted on at properly constituted
meetings of the company's shareholders. This exception is referred to as
the "unanimous written consent" provision.
According to this provision, shareholders can pass a resolution without the
need for a formal meeting if all the shareholders entitled to vote on that
resolution provide their written consent or approval to the resolution. In
other words, instead of convening a physical or virtual meeting,
shareholders can collectively agree and sign a written document indicating
their consent to a specific resolution.
To be valid, the unanimous written consent must be given by all
shareholders who have the right to vote on the particular resolution. This
means that every shareholder must agree to and sign the document. If even
a single shareholder does not provide their consent, the resolution cannot
be passed using this exception, and a formal meeting would be required.
The unanimous written consent provision is intended to provide a more
convenient and efficient way for shareholders to make decisions when all
parties are in agreement. However, it is crucial to ensure compliance with
the specific requirements outlined in the Companies Act to ensure the
validity of resolutions passed through this exception.
Question: 2
David is a non-executive director and chairperson of Free State Airlines SOC Ltd, a
company that operates commercial flights between Johannesburg and
Bloemfontein. David is also one of the major shareholders of Aerial Lease (Pty)
For inquiries and assignment help
Email: smartwritingcompany@gmail.com
WhatsApp: +254704997747
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through EFT, credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying this summary from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller PalmcomWriters. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy this summary for R48,12. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
53022 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy summaries for 14 years now