resolution
1. Formal authorization or expression of an action, decision, intention, opinion, transaction, etc.
2. Proposition put before a meeting of stockholders (shareholders) or the directors of a firm for discussion, approval or adoption. Resolutions are of
four common types: (1) Elective (see elective resolution), (2) Extraordinary (see extraordinary resolution), (3) Ordinary (see ordinary resolution), and (4) Special (see special resolution).
3. Appropriate disposition of a complaint or protest through prescribed or standard procedures.
4. Sharpness or clarity of a monitor, printer, or scanner image, expressed in an appropriate unit: pixels per inch (PPI) for monitors, dots per inch (DPI) for printers, and samples per inch (SPI) for scanners. For photographic systems, it is expressed as lines per millimeter (LPM).
elective
resolution
Special resolution that requires the
unanimous agreement of the stockholders (shareholders) of a firm. Elective resolutions
are moved usually at annual general meetings (AGM).
extraordinary
resolution
Company resolution that usually does not require
any notice of its proposal, but must be passed by a majority of at least three quarters
(two-thirds in some jurisdictions) of the votes cast. It is called a special resolution if a prior notice (usually of 21 days) is required for its proposal.
ordinary
resolution
Definition
Company resolution that is not
extraordinary, elective, or special resolution, such as that for approval of accounts. Ordinary resolutions require only ordinary or simple majority (over half of the votes of shareholders or of their proxies) to be adopted or passed, and may not
require any notice of their proposal.
special
resolution
Definition
Extraordinary resolution regarding an important decision, such as for altering the terms of the articles of association or the memorandum of association, or making some other major or fundamental changes in an organization. A special resolution typically requires (1) not less than 21 days notice to the members of the intention to propose the resolution, (2) not less than
three-fourth of the votes of the members present in person or by proxy for approval, and (3) to be filed with the competent authority (such as the registrar of companies in the UK), within
15 days of being approved.
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