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Close Corporations Act, 1984 (Act No. 69 of 1984)

Part V : Internal Relations

48. Meetings of members

 

(1) Any member of a corporation may by notice to every other member and every other person entitled to attend a meeting of members, call a meeting of members for any purpose disclosed in the notice.

 

(2)        Unless an association agreement provides otherwise—

(a) a notice referred to in subsection (1) shall, as regards the date, time and venue of the meeting, fix a reasonable date and time, and a venue which is reasonably suitable for all persons entitled to attend the particular meeting;
(b) three-fourths of the members present in person at the meeting, shall constitute a quorum: and
(c) only members present in person at the meeting may vote at that meeting.

 

(2A) Unless an association agreement provides otherwise, a meeting at which a quorum is not present within half an hour after the time appointed for the meeting, shall be adjourned to a day not earlier than seven days and not later than 21 days after the date of that meeting, and if at such adjourned meeting a quorum is not present within half an hour after the time appointed for the meeting, the members present in person shall constitute a quorum.

 

(2B) Where a meeting has been adjourned as contemplated in subsection (2A), the member who adjourned the meeting shall, upon a date not more than three days after the adjournment, send a written notice to each member of the corporation stating—
(a) the date, time and place to which the meeting has been adjourned;
(b) the matters before the meeting when it was adjourned; and
(c) the grounds for the adjournment.

 

(3)        

(a) A corporation shall record a report of the proceedings at a meeting of its members within 14 days after the date on which the meeting was held in a minute book which shall be kept at the registered office of the corporation.
(b) A resolution in writing, signed by all the members and entered into the minute book, shall be as valid and effective as if it were passed at a meeting of the members duly convened and held.

 

 


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