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Company Resolution Agreement (Blank)

A Company Resolution Agreement is a formal way in which a company can note decisions that are made at a meeting of company members. There are two types of resolutions: ordinary and special. Under the Corporations Act 2001, most of the decisions that affect a company need to be made by a resolution.

 

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Company Resolution Agreement

This is not legal advice provided by Precedents Online or its Authors.  It is general information only.

Company Resolution

resolution is a formal way in which a company can note decisions that are made at a meeting of company members. There are two types of resolutions: ordinary and special. … Additionally, a company’s constitution may have its own rules about what decisions need to be made by resolution.

Passing a company resolution

A resolution is a formal way in which a company can note decisions that are made at a meeting of company members. There are two types of resolutions: ordinary and special.

Under the Corporations Act 2001, most of the decisions that affect a company need to be made by a resolution. Additionally, a company’s constitution may have its own rules about what decisions need to be made by resolution.

How to pass a resolution

For a resolution to pass, it must meet the following criteria:

  • the resolution is passed at a meeting which is properly convened and satisfied any quorum (minimum number of members are present) requirements
  • the resolution is put into the company’s records within one month of the meeting being held, and
  • the minutes of the meeting where the resolution was passed must be signed by the chair of the meeting, or the chair of the following meeting.

If these criteria aren’t met, the resolution could be considered as invalid. You also need to determine if you are required to pass an ordinary resolution or a special resolution.

If you are passing a special resolution, there may be other requirements you need to fulfil. See ‘Special resolutions’ below for more information.

Voting on resolutions

Where a company has share capital, a member has one vote for each share they hold. These votes are subject to any rights or restrictions attached to their specific class of shares.

If the company doesn’t have share capital, each member is entitled to one vote. The chair has a casting vote. If the chair is also a member, they have a member’s vote as well.

For further information please visit: – asic.gov

 

 
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