Section 342 | Members' power to require independent report on poll

(1)The members of a quoted company may require the directors to obtain an independent report on any poll taken, or to be taken, at a general meeting of the company.

(2)The directors are required to obtain an independent report if they receive requests to do so from—

(a)members representing not less than 5% of the total voting rights of all the members who have a right to vote on the matter to which the poll relates (excluding any voting rights attached to any shares in the company held as treasury shares), or

(b)not less than 100 members who have a right to vote on the matter to which the poll relates and hold shares in the company on which there has been paid up an average sum, per member, of not less than £100.

See also section 153 (exercise of rights where shares held on behalf of others).

(3)Where the requests relate to more than one poll, subsection (2) must be satisfied in relation to each of them.

(4)A request—

(a)may be in hard copy form or in electronic form,

(b)must identify the poll or polls to which it relates,

(c)must be authenticated by the person or persons making it, and

(d)must be received by the company not later than one week after the date on which the poll is taken.