Corporate Meetings Very Short Answer Type Questions

Question 1.
What is statutory meeting?
Answer:
It is the first meeting of members of a company. Every public company limited by shares, by guarantee, and having a share capital must hold this meeting within a period of not less than one month and not more then six months from the date of commencement of business.

Question 2.
Mention the contents of notice of meeting?
Answer:
Notice of general meeting to share holders. Contains:

  • Place and date of meeting
  • Time of meeting
  • Object of the meeting
  • Proxy form enclosed.

Question 3.
Give the meaning of proxy.
Answer:
Proxy is a person appointed or nominated by the share holders of the company to represent him at the general meeting of the company to attend and vote.

Question 4.
What is an agenda?
Answer:
Agenda is the list of Business programmes to be transacted at the meeting.

Question 5.
What is quorum?
Answer:
It refers to the specified minimum number of qualified persons required for transacting legally binding business at the meeting.

Question 6.
What is motion.
Answer:
Motion is proposal put before a meeting for its consideration.

Question 7.
What is resolution?
Answer:
It is a formal expression of the decision of a meeting.

Question 8.
What is extra ordinary general meeting.
Answer:
It is convened to transact special business which are extra ordinary in nature.

Question 9.
What is statutory report?
Answer:
It is a report contain at the necessary information relating to company formation financial position, etc.

Question 10.
Define meeting?
Answer:
Meeting is defined as any gathering assembly of persons coming together at particular place for the transaction of some lawful business of a company.

Question 11.
Define minutes.
Answer:
Minutes may be defined as the written record of the business done at the meeting. It is an official record of the proceedings and decision taken at the meeting.

Question 12.
What is class meeting?
Answer:
It is the meeting held by particulars class of shareholders to make changes in the articles of the company as regards their rights and privileges.

Question 13.
What is special resolution?
Answer:
It is one which is required for transferring special business and it is to be passed by a 3/4 majority.

Question 14.
What is ordinary resolution?
Answer:
It is a resolution passed by a simple majority of vote cast by the members of the company.

Question 15.
Name any two matters requiring special notice of resolution.
Answer:

  • Resolution at the annual general meeting to appoint, as auditor a person other than the retiring auditor.
  • To remove a director and to appoint a new one at his place.

Question 16.
Name the different kinds of company meetings.
Answer:
The following are the different types of meetings of a joint stock company:
1) Board Meeting

2) Shareholders Meetings

  • Statutory meeting
  • Annual General meeting
  • Extra-Ordinary General meeting
  • Class meeting

3) Meetings.of Debenture holders.

4) Meetings of Creditors.

Question 17.
What is casting vote?
Answer:
Casting vote refers to the opinion of members regarding the proposal. The members may take decision either in favour of it or against it by casting vote.

Question 18.
Give any reasons for adjournment of meeting?
Answer:
The chairman can adjournment of meeting under following reasons.

  • When a quorum is not present.
  • When the members demand it.
  • When the meeting becomes disorderly.
  • When the chair man thinks that it is the best interest of the company.

Question 19.
What is sense of the meeting?
Answer:
When a motion is discussed at a meeting the decision in favour of it or against it is taken by votes. This method is known as ascertaining the sense of the meeting. There are several methods by which the chairman can ascertain the sense of the meeting.

Question 20.
What is point of order.
Answer:
Point of order is an objection raised by any member against not the irregularly in the proceedings of the meeting.

Question 21.
What are the types of proxies?
Answer:
Proxies are of two types they are:

  • General proxy : He is a person who is authorized to vote in all the motions or all the proposals of the meeting.
  • Special proxy : He is person authorized to vote only on particular proposal or motion.

Question 22.
What are different kinds of minutes?
Answer:

  • Minutes of resolution or decisions: It does not contain any reference to the discussion voting etc. that take place at a meeting.
  • Minutes of narration: It contains adequate information about the discussion pertaining to a resolutions that takes place at a meeting. It is very useful in understanding resolution.

Question 23.
Mention any 4 Statutory Books.
Answer:

  • Register of members
  • Minutes Books
  • Register of debenture
  • Register of directors