OpenLegislation

Rule 1.20 Requisite majorities (members)I1

England and Wales

Changes not yet applied. Later legislation changes this provision in ways not yet written into the text below:

  • rule 4.54(5-CVL) substituted for rule 4.54(5) by Insolvency 2010 Sch. 1 para. 179(5)
(1)

Subject as follows, and to any express provision made in the articles, at a company meeting any resolution is to be regarded as passed if voted for by more than one-half F1in value of the members present in person or by proxy and voting on the resolution.

F2The value of members is determined by reference to the number of votes conferred on each member by the company’s articles.

F3(2)

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(3)

If the chairman uses a proxy contrary to Rule 1.15, his vote with that proxy does not count towards any majority under this Rule.

Annotations

Textual amendments

F1

Words in rule 1.20(1) inserted (11.1.1988 with application in accordance with rule 3(1)(2)) by The Insolvency (Amendment) Rules 1987 (S.I. 1987/1919), rule 1, Sch. para. 5

F2

Words in rule 1.20(1) added (11.1.1988 with application in accordance with rule 3(1)(2)) by The Insolvency (Amendment) Rules 1987 (S.I. 1987/1919), rule 1, Sch. para. 5

F3

Rule 1.20(2) omitted (1.1.2003) by virtue of The Insolvency (Amendment) (No. 2) Rules 2002 (S.I. 2002/2712), rule 1(1),, Sch para. 11 (with rule 3(2))

Commencement

I1

in force at 29.12.1986, see rule 0.1