New Zealand Legislation: Acts
Acts are laws made by Parliament
(1) General meetings of the shareholders of a Maori incorporation shall from time to time be held as required by this Act or by the constitution of the incorporation.
(2) The court may at any time by order direct the holding of a special general meeting of shareholders.
(3) All general meetings shall be summoned in the manner prescribed by the constitution of the incorporation.
(4) Subject to the constitution of the incorporation, any shareholder may attend and vote at any meeting of the shareholders either personally or by a proxy appointed by the shareholder in writing.
(5) Unless, on any question submitted at a general meeting to a vote of the shareholders, a poll is demanded by not less than 5 persons present in person at the meeting, or by any person or persons entitled to exercise not less than one-tenth of the total votes of those present in person or by proxy at the meeting, every shareholder present in person or by proxy shall have 1 vote only, and a resolution shall be carried if a majority of the votes is in favour of it.
(6) If, on any question submitted to a vote of the shareholders, a poll is demanded in accordance with subsection (5), the voting powers of the shareholders shall be determined by the number of shares held by each shareholder.
(7) A person acting as proxy for more than 1 shareholder shall be entitled to vote separately for each person for whom that person so acts.
(8) No person shall be competent to act as the proxy for any shareholder at a meeting of shareholders if that person is either a member of the committee of management or has consented, before or at that meeting, to be nominated for election as a member of the committee of management.
(9) The quorum for a general meeting of shareholders shall be fixed by the constitution of the incorporation.
(10) Unless and until a quorum is so fixed, the quorum for any such meeting shall be 20 shareholders or a number of shareholders equal to two-thirds of the number of shareholders (whichever is the less), and whether in either case the shareholders attend personally or by proxy.
(11) No general meeting shall be deemed to be properly constituted unless at least 3 shareholders are present in person throughout the meeting.
(12) Except as otherwise provided in this section or by the constitution of the incorporation, the shareholders present, either personally or by proxy at a general meeting, may regulate the procedure of that meeting.
Compare: 1967 No 124 s 63
