A Ltd sought to contribute to the National Defence Fund an amount at 6 of the average net profits of...........

Companies Act-Phase (I & II) Board-powersandMeetings

A. Ltd sought to contribute to the National Defence Fund an amount at 6 % of the average net profits of 3 years immediately preceding the FY. There is a debate as to who is the proper

authority to approve such a resolution. Who is the proper authority?

The BOD

The person or authority exercising powers of the BOD

The Co. in GM

All of these

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Explanation:

The BOD
The person or authority exercising powers of the BOD
The Co. in GM
Resolution shall be considered as approval only after acceptance of Resolution by Majority of Director and resolution passed by circulation are deemed to be passed at a duly convened Meeting of the Board and have equal authority.