ExpertEasy1 markMultiple Choice
Management, administration and the regulation of companiesManagement, administration and the regulation of companiesMeetings
ACCA · Question 38 · Management, administration and the regulation of companies
Section A
What is the standard quorum for a general meeting of a private limited company with multiple shareholders?
Section A
What is the standard quorum for a general meeting of a private limited company with multiple shareholders?
Answer options:
A.
One qualifying person.
B.
Two qualifying persons.
C.
Five qualifying persons.
D.
A majority of the shareholders.
How to approach this question
Recall the statutory default rule for the minimum number of people required to hold a valid meeting.
Full Answer
B.Two qualifying persons.✓ Correct
Under s.318 of the Companies Act 2006, the default quorum for a general meeting is two qualifying persons (shareholders or their proxies). For a single-member company, the quorum is one.
Common mistakes
Assuming a percentage of shareholders must be present.
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