ordinary resolution

A resolution that is valid if passed by a majority of the votes cast at a general meeting of a British company. No notice that the resolution is to be proposed is required. The UK Companies Act prescribes this type of resolution for certain actions, such as the removal of a director. Normally, no particular length of notice is required for an ordinary resolution to be proposed, beyond the notice needed to call the meeting. However, ordinary resolutions of the company require special notice if a director or an auditor is to be removed or if a director who is over the statutory retirement age is to be appointed or permitted to remain in office. In these circumstances 28 days' notice must be given to the company and the company must give 21 days' notice to the members.

Accounting dictionary. 2014.

Look at other dictionaries:

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  • ordinary resolution — noun A resolution that requires a majority vote of members present at a general meeting of a company …   Wiktionary

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  • resolution — A document that records a decision or action by a Board of Directors, or a bond resolution by a government entity authorizing a bond issue. Bloomberg Financial Dictionary * * * resolution res‧o‧lu‧tion [ˌrezəˈluːʆn] noun 1. [countable] an… …   Financial and business terms

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