Shareholders are entitled to inspect the company’s financial books and records, including, but not limited to, financial statements, shareholder lists, corporate stock ledgers, and meeting minutes. 1 When Can A Shareholder Inspect Company Records?
Who can inspect Board minutes?
1 The Minutes of Meetings of the Board and any Committee thereof can be inspected by the Directors. A Director is entitled to inspect the Minutes of a Meeting held before the period of his Directorship.
Do shareholders have the right to see Board minutes?
Rights of all shareholders
All company shareholders have the right to: Inspect company information, including the register of members (s. 116 Companies Act 2006) and a record of resolutions and minutes (s. 358) without any charge.
Can shareholders attend board meetings?
The notice must give sufficient indication of the business of the meeting, so that a shareholder can decide whether to attend or not. … The notice must also tell shareholders that they can appoint a proxy to attend and vote in their place.
Can a member of a company inspect the minutes book of the general meetings?
As per that, any member of company can apply for inspection or get records of minutes book of any general meeting on payment of a prescribed fee but not exceeding Rs. 10 per page. Member is also allowed to apply for electronic record of such minutes of any 3 preceding financial years free of cost.
Can a company secretary call a meeting?
Often (including for start-ups and SMEs with the default model articles of association) the articles say that any director can call a board meeting at any time, or instruct any company secretary to call one.
Where should date of entry of minutes be recorded?
Company Secretary shall record the date of entry of the Minutes in the Minutes Book. Where there is no Company Secretary, it shall be entered by any other person authorised by the Board or the Chairman.
What documents can a shareholders entitled to see?
The main documents of interest to shareholders will be the company’s annual report and accounts. Each shareholder has the right to receive these when they’re issued generally and on request. Shareholders also have the right to receive a copy of any written resolution proposed by either the directors or shareholders.
Can a shareholder See full account?
Companies are required to send a copy of its annual accounts and reports for each financial year to every shareholder of the company. … Shareholders are not however entitled to receive or inspect copies of general a company’s financial records.
What power do shareholders have?
Common shareholders are granted six rights: voting power, ownership, the right to transfer ownership, dividends, the right to inspect corporate documents, and the right to sue for wrongful acts.
Do shareholders have more power than directors?
Shareholders who hold a higher percentage of the shares in the company have even more power to take other types of action. … In simple terms therefore the more shares you have or can command then the more you can influence and disrupt the directors actions.
Do shareholders approve accounts?
Shareholders are not asked to approve the accounts – they are merely provided with a copy – although they can ask questions on matters in the accounts. There may be additional matters that require a vote and the notice calling the meeting should tell you this.
How many shares do you need to be invited to a shareholders meeting?
The right to attend a General Shareholders’ Meeting shall accrue to the holders of at least 300 shares, provided that such shares are registered in their name in the corresponding book-entry registry five days in advance of the date on which the General Shareholders’ Meeting is to be held, and provided also that they …
Who can see minutes?
Simple Rule 1: A member of a group has a right to examine the minutes of that group. Plain and simple, Robert’s Rules says that the secretary of an organization has to (1) keep minutes and (2) make them available to members that ask for them.
What are minutes of a meeting?
Also known as protocol or note, minutes are the live written record of a meeting. They include the list of attendees, issues raised, related responses, and final decisions taken to address the issues.
What is the liability of members if company is limited by shares?
It is limited by shares, meaning it is incorporated with a share capital made up of shares taken by each initial member on incorporation. Members are liable only to the extent of any unpaid amounts on their shares. That is, their personal assets are not at risk in the event of the company being wound up.