Question 27 of 33
Q.What kind of resolutions are required to implement the following decisions of a company ?
(a) To change the objectives of the company.
(b) To declare the dividends.
Puducherry TnboardTamil Nadu HSC (DGE) Commerce Board 2024Subjective· 2mImportance★★★★★
82% · 27/33 Questions
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Start your 14-day free trial to unlock the full solution →Changing the company's objectives needs a Special Resolution (alteration of the Memorandum); declaring dividends needs only an Ordinary Resolution.
Resolutions are the formal decisions passed by the members of a company at a meeting. The kind of resolution needed depends on the significance of the matter, as studied in the Company Management chapter of the Tamil Nadu HSC Class-12 Commerce syllabus.
- To change the objectives of the company: The objectives of a company are contained in the objects clause of the Memorandum of Association. Altering them is a fundamental change, so it requires a Special Resolution — one passed by a majority of not less than three-fourths (75%) of the members voting.
- To declare the dividends: …
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