Sri Lanka Consolidated Acts

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Companies Act (No. 17 of 1982) - Sect 130

Provisions as to meetings and votes

130. The following provisions shall have effect in so far as the articles of the company do not make other provision in that behalf
(a) notice of the meeting of a company shall be served on every member of the company in the manner in which notices are required to be served under the provisions of by Table A of the First Schedule hereto and for the purpose of this paragraph, the expression " Table A " means that Table as is for the time being in force ;
(b) two or more members holding not less than one- tenth of the issued share capital or, if the company has not a share capital, not less than five per centum in number of the members of the company may call a meeting ;
(c) in the case of a private company two members, and in the case of any other company three members, present in person or by an authorized representative under the provisions of paragraph (a) of subsection (1) of section 132 shall be a quorum ;
(d) any member elected by the members present at a meeting may be chairman thereof ;
(e) no member shall be entitled to vote at any general meeting unless, all calls or other sums then payable by him in respect of shares in the company have been paid ;
(f) in the case of a company having a share capital where voting is by show of hands, each member shall have one vote and on a poll every member shall have one vote in respect of each share or each one hundred rupees of stock, as the case may be, held by him and in any other case every member shall have one vote.


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