257Calling of general meeting on requisition

257 Calling of general meeting on requisition

257 Calling of general meeting on requisition

(1) The board of a co-operative must call a general meeting of the co-operative on the written requisition of the number of members who together are able to cast at least 20% (or a lesser percentage specified in the rules of the co-operative) of the total number of votes able to be cast at a meeting of the co-operative.

(2) A member cannot be a requisitioning member unless the member is an active member.

(3) The following provisions apply to a requisition for a general meeting—

(a) it must state the objects of the meeting;

(b) it must be signed by the requisitioning members (and may consist of several documents in like form each signed by one or more of the requisitioning members);

(c) it must be served on the co-operative by being filed at the registered office of the co-operative.

(4) The meeting must be called and held as soon as practicable and in any case must be held within 63 days after the requisition is served.

(5) If the board does not call the meeting within 21 days after the requisition is served, the following provisions apply—

(a) the requisitioning members (or any of them representing at least half their total voting rights) may call the meeting in the same way as nearly as possible as meetings are called by the board;

(b) for that purpose, they may ask the co-operative to supply a written statement setting out the names and addresses of the persons entitled when the requisition was served to receive notice of general meetings of the co-operative;

(c) the board must send the requested statement to the requisitioning members within 7 days after the request for the statement is made;

(d) the meeting called by the requisitioning members must be held within 91 days after the requisition is served;

(e) any reasonable expenses incurred by the requisitioning members because of the board’s failure to call the meeting must be paid by the co-operative;

(f) any amount required to be paid by the co-operative under paragraph (e) must be retained by the co-operative out of any money due from the co-operative by way of fees or other remuneration for their services to any of the directors that were in default.