Paragraph 7

Section 303 (members' power to require directors to call general meeting) has effect as if—

(a)

in subsection (2)(a) and (b) for “5%” there were substituted “ the required percentage ”; and

(b)

after subsection (2) there were inserted—

“(3A)
The required percentage is 10%, except that in the case of a private company it is 5% if more than twelve months have elapsed since the end of the last general meeting—
(a)
which was called in pursuance of a requirement under this section, or
(b)
in relation to which any members of the company had (by virtue of an enactment, the company's articles or otherwise) rights with respect to the circulation of a resolution no less extensive than they would have had if the meeting had been so called at their request.”.

Notes on the whole SI

Textual amendments

F1: Order revoked (14.12.2023 for the revocation of art. 227) by Financial Services and Markets Act 2023 (c. 29), s. 86(3), Sch. 1 Pt. 2 (with s. 1(4)); S.I. 2023/1382, reg. 2(c)(x)

Notes on Schedule 4

Modifications

C1: Sch. 4 applied (with modifications) (31.12.2023) by The Resolution of Central Counterparties (Modified Application of Corporate Law and Consequential Amendments) Regulations 2023 (S.I. 2023/1313), regs. 1(2), 5