📜 Written Resolutions Under the Companies Act 2006: Unlocking Boardroom Decisions Without Meetings

Imagine holding a company meeting without actually having to meet! Sounds like a dream, right? Enter the magic of Written Resolutions under the Companies Act 2006. Let’s dive into this wonder tool that allows companies to pass resolutions straight from the comfort of their director’s lazy chairs! 🛋️✨

What is a Written Resolution? 🤔

A Written Resolution is like sending a group message to make a decision, folks!📲 Instead of herding cats (umm… directors and members) into a room for a formal meeting, you get to signal yay or nay on paper. 🌟

Expanded Definition

Under the Companies Act 2006, a Written Resolution is a resolution signed by a majority of company members. This bad boy gets treated as effective even when passed outside of a formal company meeting. Think of it as doing business in your pajamas! 🛏️

Meaning

In layman terms, it’s the company’s way of ensuring decisions get made even when Barry from Accounting can’t agree on a meeting time.

Key Takeaways

• 🖋️ Majority Rule: Simply needs a majority of signatures, unlike before where unanimous consent was needed.
• 🌐 Convenience: Ensures critical decisions without the drama of meetings.
• 📜 Special Resolutions: Need the enthusiastic yay from 75% of members (think family movie night choices!).

Importance

Why chase your cats when you can herd them through emails? This makes managing a company’s decision-making process smoother and far less chaotic. 🤷‍♂️

Types of Written Resolutions 🎈

In the realm of written resolutions, you mainly deal with two types:

Ordinary Resolution 🎉

This is your e-tickets to ride. A simple majority (>50%) can get these passed:

• Dividend Payments
• Director Appointments

Special Resolution 🎊

These require 75% of signatures to win:

• Amendment to Articles of Association
• Share Capital Alterations

Both come without the necessity of face-to-face debates! (Keep those pajamas on. 🛌)

Examples in Real Life 🚀

Let’s sprinkle some fairy dust and see where written resolutions shine ✨:

• Startup XYZ avoids war over board meetings and passes a decision to issue new shares with a click.
• OldSchool Ltd amends Articles of Association during a tea break without any boardroom battles.

Funny Quotes to Lighten it Up

" Meetings? We don’t do those. We just write things down and hope for the best!" - Anonymous CEO 🤷‍♀️

“I became a director to avoid email chains, not to drown in them!” - Thought every director ever. 📧

Related Terms & Their Definitions 📚

• Articles of Association (Noun): Hey, this isn’t your art magazine but the sacred document governing a company’s day-to-day grind and policies.
• Special Resolution (Noun): This is the high-stakes, 75% agreement ticket needed for more consequential decisions.
• General Meeting (Noun): Consider this as the Jurassic age of board decisions, where face time mattered.

Comparison: Written Resolution vs General Meeting 📈

Quiz Time 📚❓

Inspirational Fictitious Author: Lex Legallaughs
Publishing Date: October 13, 2023

“Make decisions in your pajamas and let the magic of Written Resolutions do the rest. Until next time, folks - stay comfy, stay efficient!”