Article 70 - Conditions to be met before investment club bound to give notice of resolution

(1) An Investment Club shall not be bound under Article 69 to give notice of any resolution or circulate any statement unless a copy of the requisition signed by the requisitionists, or two or more copies which between them containing the signatures of all the requisitionists, is deposited at the registered office of the Investment Club:
a. requiring notice of a resolution, not less than 21 days before the meeting; or
b. in the case of any other requisition, not less than 7 days before the meeting; and
there is deposited or tendered with the requisition a sum reasonably sufficient to meet the Investment Club's expenses in giving effect thereto.
(2) Provided that if, after a copy of the requisition requiring notice of a resolution has been deposited at the registered office of the Investment Club, an annual general meeting is called for a date 21 days or less after the copy has been deposited, the copy though not deposited within the time required by this Article 70 shall be deemed to have been properly deposited for the purposes thereof.
Derived (as from 20th December 2016).