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Elective Resolution: a resolution which a private company is entitled to pass to reduce or remove certain administrative or formal requirements. It requires the consent of all those shareholders entitled to vote.

Emergency General Meeting: an extraordinary general meeting called by the members.

Employee: an individual who works for the company directly. Not a contractor or free-lancer. Companies incur PAYE and National Insurance liabilities on behalf of their employees.

Executive Director: a salaried Director having specific responsibilities, for example, Financial Director.

Extraordinary General Meeting: any meeting of shareholders which is not the AGM. All members must be given proper notice.

Extraordinary Resolution: a resolution required to effect decisions in certain circumstances (a creditors´ winding up) and which requires a majority of not less than 75% of the company members voting in person or by proxy at a general meeting.