QUEER INCIDENTS

Wairarapa Times-Age, 10 January 1940, Page 6

QUEER INCIDENTS

MEETINGS OF COMPANIES. SOME LONDON CASES. In the course of their duties accountants see occasionally some strange happenings in the affairs of companies. Here are some incidents reported in “The Certified Accountants’ Journal" (London): — "An ex-Lord Mayor of London, not liking the tone of the meeting over which he presided, proceeded to adjourn it to a more convenient day before the business for which it had been convened had been completed. To his dismay, the minority of members present decided to continue the business of the meeting and elected a new chairman and new directors, excluding the ex-Lord Mayor. It was held by the Court that a chairman could not adjourn a meeting at his will and pleasure, and therefore the resolutions of the remaining minority were valid.

“In another case, the chairman discovered on attending the meeting that there was nobody present except himself; thereupon he proceeded to transact the business of the meeting. ending with a vote of thanks toYhe chairman for presiding. These proceedings were duly minuted, and the Court properly held that the proceedings were invalid, for one person cannot usually constitute a meeting.

"An ingenious attempt was made by a chairman of a board to get over the difficulty of not having a quorum, which ordinarily consists of two or more persons. In this case the board consisted of two persons only, one of whom persistently refused to attend any meetings. The chairman tried to solve the problem by meeting the other member in the street and thrusting hmself upon him and endeavoured to conduct a board meeting in a casual and- informal way. Such a meeting, if agreed to by both members, would be perfectly valid, but obviously, when one member objects to a meeting held in such circumstances, it would be invalid, and the Court held accordingly.”