Companies Act 2014 section 178

Convening of extraordinary general meetings by members

Section 178 sets out the rights of members to convene extraordinary general meetings of a company, and the obligations on directors when members requisition such meetings.

• Members holding at least 50% of voting share capital may directly convene an extraordinary general meeting, unless the constitution specifies a different threshold
• Directors must convene an extraordinary general meeting when requisitioned by members holding at least 10% of voting share capital
• If directors fail to act within 21 days of a requisition, the requisitioning members may convene the meeting themselves, and reasonable expenses will be reimbursed from directors' fees
• Any meeting convened by members must follow, as closely as possible, the same procedures as meetings convened by directors