Newsletter
SHAREHOLDERS MAY ELECT CHAIRPERSON OF SHAREHOLDERS' MEETING WHEN STATUTORY CHAIRPERSON IS UNABLE TO AT-TEND
According to a 2008 civil appeal judgment of the Taiwan High Court, the chairperson of a share-holders' meeting presides over and directs the progress of the meeting, and has a great influence over the procedure and outcome of resolutions at the meeting. Therefore if a person who does not meet the statutory eligibility criteria acts as chairperson, then resolutions passed by a shareholders' meeting over which such a person presides, and the method of resolution, should on that basis alone be regarded as unlawful, constituting grounds for annulment of such resolutions.
But if circumstances prevent the statutorily eligible chairperson from attending a shareholders' meeting, then in order to allow the meeting to be successfully conducted, and to avoid the undesirable situation of a meeting's being able to go ahead depending on the attendance of one person, the shareholders may themselves elect a chairperson before proceeding with the meeting.