Article 61 - General Meetings
(1) A meeting of the Members of an Investment Club must be convened at least once in every Calendar Year (save that provided an Investment Club must hold its first annual general meeting within 18 months of its incorporation, it need not hold it in the Calendar Year of its incorporation or the following Calendar Year); this meeting must be referred to as the annual general meeting.
(2) The directors may, whenever they deem appropriate, convene a general meeting of the Members of an Investment Club or the holders of any class of Shares thereof. All meetings other than annual general meetings must be called special general meetings.
(3) In addition to the meetings set out in Article 61(1) of these Regulations, an Investment Club must hold a meeting of Members, which must be a Review Meeting, at least every 90 days beginning from the date of incorporation. The Members must be given 21 days' notice, or such less time as may be set out in an Ordinary Resolution or the articles of association.
(4) The agenda at the Review Meetings must include:
a. a review of the portfolio during the period since the previous meeting of the Members;
b. discussion and the voting on a resolution on whether all or part of the assets which make up the portfolio or sub-portfolio should be divested and different assets purchased;
c. a review and the voting on a resolution as to whether the weightings in respect of the current sub-portfolios should be varied with resulting sales and purchases;
d. whether additional assets should be purchased and Members be required to subscribe for additional Shares in the Investment Club;
e. how the Investment Club should vote in relation to any resolution to be passed at meetings of companies in which the Investment Club owns shares; and
f. such other items as the articles of association of the Investment Club may provide.
|Derived (as from 20th December 2016).|