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Companies Act, 1973 (Act No. 61 of 1973)

Chapter VII: Administration of Companies

Meetings of the Company

192. Compulsory adjournment of meetings

 

 

1) If at any meeting of a company any member of the company who is present or represented and entitled to vote at the meeting demands an adjournment of the meeting upon any ground stated by him, the chairman shall put the demand to the vote of the meeting, and if a majority of the members present or represented and entitled to vote at the meeting or members present or represented and entitled to vote representing either personally or by proxy more than half of the share capital of the company represented at the meeting, vote in favour of an adjournment, the chairman shall adjourn the meeting to a day not earlier than seven days and not later than twenty-one days after the date of the meeting.

 

2) When a meeting has been adjourned as aforesaid the company shall, upon a date not later than three days after the adjournment, publish in a newspaper circulating in the province where the registered office of the company is situated a notice stating -
a) the time, date and place to which the meeting has been adjourned;
b) the matter before the meeting at the time when it was adjourned; and
c) the ground for the adjournment:

Provided that a private company may, instead of publishing the said notice in a newspaper, send it by registered post, or by electronic post if so authorised by its articles, to the members not later than three days after the adjournment.

 

3) Any person acting as chairman of a meeting of a company who fails to comply with any requirement of subsection (1) and any company which fails to comply with any requirement of subsection (2) and any director or officer of such a company who knowingly is a party to the failure, shall be guilty of an offence.