elective resolution
Formerly part of the elective regime. A resolution passed by members of a private company to amend the duration of authority of directors to allot securities (sections 80A and 379A(1)(a), Companies Act 1985).
Before 1 October 2007, there were five elective resolutions which could be adopted by private companies to:
1. Amend the duration of authority of directors to allot securities (section 80A, Companies Act 1985). This is the only elective resolution still in force and section 80A will be repealed from 1 October 2008.
2. Dispense with the laying of accounts and reports before the members in general meeting (section 252, Companies Act 2006). This was repealed on 1 October 2007.
3. Dispense with the holding of annual general meetings (section 366A, Companies Act 1985). This was repealed on 1 October 2007.
4. Allow the majority required to authorise short notice of a meeting and notice of a resolution to be reduced from 95% to a lower figure but not less than 90% (sections 369(4) and 378(3), Companies Act 1985). This was repealed on 1 October 2007.
5. Dispense with the annual appointment of auditors (section 386, Companies Act 1985). This was repealed on 1 October 2007
Related links

Practical Law Dictionary. Glossary of UK, US and international legal terms. . 2010.

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