Quorum Definition

GLOSSARY

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What does Quorum mean?

The minimum number of qualifying individuals required to conduct valid business at either a general meeting of the shareholders or a meeting of the board of directors. If there are insufficient people the meeting is said to be inquorate and any resolutions passed at the meeting will be invalid. Subject to the articles of association, two qualifying persons present at a meeting of the company are a quorum, unless they are both a qualifying person as the representative of the same corporation or as proxy of the same member (CA 2006, s 318). In the case of single member companies, one qualifying person present at a meeting is a quorum (CA 2006, s 318).

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