Section 17 in The Punjab State Warehousing Corporation Regulations, 1976
17. (i) Notice for convening a general meeting. [Section 42(2)(f)].
- A notice in writing of at least 30 days shall be given by the Managing Director to the share-holders for convening the annual general meeting of the Corporation.(ii)Business at the annual general meeting. - At the annual general meeting the following business shall be transacted, namely :-(a)Consideration of the annual accounts of the Corporation together with the audit report thereon.(b)Any other business with the consent of the chairman.(iii)(I)Voting by State Government. - (a) The State Government may, by an order in writing, authorise any of its officers to act as its representatives at the annual general meeting of the Corporation and the officer so authorised shall be entitled to exercise the same power on behalf of the State Government as if he were an individual share-holder of the Corporation. The officer so authorised shall not be deemed to be a proxy.(b)A copy of an order made under sub-regulation (iii) (I) (a) shall be deposited with the managing director or secretary of the Corporation before the time fixed for the meeting.(c)An order made under sub-regulation (iii) (I) (a) may be revoked by the State Government by depositing a notice of revocation before the time fixed for the meeting and the due revocation of an order shall, in no way prohibit the issue of another order by the State Government and the deposit of a copy thereof with the managing director or the secretary of the Corporation within the time limited by sub-regulation (iii)(I)(b) above.(II)Voting by Central Warehousing Corporation. - The managing director of the Central Warehousing Corporation may authorise any official of the Central Warehousing Corporation or any other person to act as the representative of the Central Warehousing Corporation at the annual general meeting of the Corporation and the person so authorised shall be entitled to exercise the same powers on behalf of the Central Warehousing Corporation as if he was an individual share-holder of the Corporation. The authorisation so given may be in favour of two representatives in the alternative and shall be in writing signed by the managing director of the Central Warehousing Corporation. Such authorisation shall be deposited with the managing director or the secretary of the Corporation before the time fixed for the meeting. A person acting in terms of the authorisation given under this sub-regulation shall not be deemed to be a proxy.(iv)Quorum for General Meeting. - A quorum for the annual general meeting of the share-holders shall be two if, within 30 minutes from the time appointed for the meeting, a quorum is not present, the meeting shall stand adjourned to such date and at such time and place as the Chairman may determine. At the adjourned meeting, business of the last meeting shall be conducted irrespective of there being a quorum or not.(v)Chairman of the General Meeting. - The Chairman or in his absence, a director (other than the managing director) chosen by the members present and entitled to vote at the meeting, shall be the Chairman at such a general meeting.(vi)Voting at General Meeting and decision by majority. - (a) At any general meeting a resolution put to the vote of the meeting shall be decided by the show of hands. A decision shall be taken by the majority of votes. In case of equality of votes the chairman of the general meeting shall have a second or a casting vote.(b)A declaration by the Chairman of general meeting that resolution has been carried or rejected there at upon show of hands by the members present and entitled to vote, shall be conclusive and an entry to that effect in the books containing minutes of the proceedings of the Corporation shall be sufficient evidence to that effect without proof of the number or proportion of the votes in favour of or against such resolution.(vii)Minutes of General Meeting. - (a) The Corporation shall cause minutes of all proceedings of general meetings to be recorded in books kept for that purpose.(b)Any such minutes, if signed by the Chairman of the meeting at which the proceedings take place or by the Chairman of the next succeeding meeting, shall be evidence of such proceedings.(c)Until the contrary is approved, every general meeting in respect of the proceedings whereof minutes have been recorded shall be deemed to have been duly called and held, and all proceedings taken place thereon, to have duly taken place.
