AGM protocols from the CBCA. With not much happening in the PLAN trading pit today I had time to turn to the Canada Business Corporations Act to check on a couple of points that had come up in a recent conversation.
This is section 131 (5):
"All business transacted at a special meeting of shareholders and all business transacted at an annual meeting of shareholders, except consideration of the financial statements, auditor’s report, election of directors and re-appointment of the incumbent auditor, is deemed to be special business."
My fellow investor was correct - if an AGM goes beyond the 3 basic agenda items (financial statements, election of directors and auditors) it is deemed to constitute a "Special Meeting" and all the applicable rules and procedures for a special meeting apply.
Glad I now have a more thorough and confirmed understanding of this important detai of corporate governance.l.