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ABANDONMENT OF RAILWAYS ACT 1850 - SECT 3

Shareholders may require directors to call a meeting.

3. It shall be lawful for any number of shareholders of any such company, not
being less than five, and holding in the aggregate not less than one twentieth
of the capital or stock of the company, consisting of shares or stock whereon
all calls for the time being have been paid up, but exclusive of any shares or
stock held by or in the names of the directors of the company or any of them,
or by or in the name of any person in trust for the directors of any of them,
or for the company, and which shareholders shall have paid all the calls then
due on the shares held by them, by writing under their hands to require the
directors of such company to call a meeting for the purpose aforesaid; and
upon the receipt of any such requisition such directors shall forthwith
proceed to call a meeting of the shareholders of such company on a day to be
named by them, not being less than fourteen nor more than twenty-eight days
after the receipt of such requisition: Provided always, on the default of the
directors to call and advertise such meeting within fourteen days' after the
receipt of the requisition, it shall be lawful for the requisitionists to call
such meeting themselves, at a time and place to be appointed by them, of which
fourteen days notice shall be given by them by advertisement, as herein-before
provided: Provided also, that when any meeting of any such company shall have
been called pursuant to any such requisition as aforesaid, the directors of
such company shall not be required to call any further meeting of such company
upon any further requisition for the like object until twelve months shall
have elapsed since the holding of such previous meeting.

© 1850 Crown Copyright

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