Section: This information pertains to the Notice of By Circulation.
Purpose: The purpose of this notice is to inform the members of a company about a resolution that is being passed by circulation, rather than at a meeting. This helps to ensure that all members are aware of the resolution and have the opportunity to express their views.
Applicability: The notice is applicable to all companies that pass resolutions by circulation.
Timeline: The notice must be sent to all members of the company at least 7 days before the resolution is to be passed by circulation.
Exemption: There are no exemptions to this requirement.
Penalty for not doing (specify amount): Failure to send a Notice of By Circulation can result in penalties and fines for the company and its officers. The amount of the penalty varies depending on the severity of the breach, but can range from a warning to a substantial fine.
Due date: The notice must be sent to all members of the company at least 7 days before the resolution is to be passed by circulation.
Forms: The notice can be sent in writing or electronically, and must include the text of the proposed resolution, any supporting documents, and instructions on how to vote.
Reporting authority: The notice must be sent to all members of the company.
Other details: It is important for companies to understand their obligations with respect to passing resolutions by circulation. The company should ensure that all members have access to the same information and that they have an equal opportunity to express their views. The company should also keep accurate records of the voting and ensure that the resolution is passed in accordance with the company's articles of association.
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