{
  "url": "https://openlegislation.uk/financial-services-act-1986-single-property-schemes-exemption-regulations-1989/regulation-28",
  "json_url": "https://openlegislation.uk/financial-services-act-1986-single-property-schemes-exemption-regulations-1989/regulation-28.json",
  "legislation": "uksi/1989/28",
  "legislation_title": "The Financial Services Act 1986 (Single Property Schemes) (Exemption) Regulations 1989",
  "legislation_url": "https://openlegislation.uk/financial-services-act-1986-single-property-schemes-exemption-regulations-1989",
  "path": "regulation/28",
  "kind": "regulation",
  "number": "28",
  "heading": "Votes at meetings",
  "text": "The terms of a scheme must provide that–\n(a) at any meeting of participants any resolution put to the vote at the meeting must be decided on a show of hands unless a poll is (before or on the declaration of the result of the show of hands) demanded by the chairman or by one or more participants present in person or by proxy and holding or representing one-twentieth (or any proportion less than one-twentieth specified for this purpose in the documents constituting the scheme) of the number of units for the time being in issue;\n(b) unless a poll is so demanded a declaration by the chairman that a resolution has been carried or carried unanimously or by a particular majority or lost must be conclusive;\n(c) if a poll is duly demanded it must be taken in such manner as the chairman may direct and the result of a poll shall be taken to be the resolution of the meeting at which the poll was demanded;\n(d) a poll demanded if a chairman falls to be elected by participants or on a question of adjournment must be taken forthwith and a poll demanded on any other question must be taken at such time and place as the chairman directs;\n(e) the demand for a poll must not prevent the continuance of a meeting for the transaction of any business other than the question on which the poll had been demanded;\n(f) on a show of hands every participant who is entitled to vote on the resolution in question and who is present whether (being an individual) in person or (being a corporation) by a duly authorised representative not being himself a participant entitled to vote must have one vote;\n(g) on a poll votes must be capable of being given in person or by proxy;\n(h) on a poll every participant who is entitled to vote on the resolution in question and who is present in person or by proxy must have one vote for every unit in respect of which he is registered in the register of participants;\n(i) a corporation being a participant must be able by resolution of its directors or other governing body to authorise such person as it thinks fit to act as its representative at any meeting of participants and the person so authorised must be entitled to exercise the same powers on behalf of the corporation which he represents as the corporation could exercise if it were an individual participant; and\n(j) in the case of joint participants the vote of the senior who tenders a vote whether in person or by proxy shall be accepted to the exclusion of the votes of the other joint participants and for this purpose seniority shall be determined by the order in which the names stand in the register of participants.",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/uksi/1989/28/regulation/28",
    "retrieved_at": "2026-10-29T15:51:28.444916+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}