Identify TWO (2) processes required to vary the class rights of shareholders without the sanction of the Court. (4 marks)

  • By a special resolution to alter the company’s Regulations to insert provisions regarding the variations of the rights of a class or to modify the terms of those provisions.
  • The alteration shall require the prior written consent of the holders of at least three-fourths of the issued shares of each class.
  • The sanction of a special resolution of holders of the shares of each class.

(2 points for 2 marks each)