Variation of class rights: dissenting shareholders may apply to tribunal to cancel variations that unfairly prejudice the class. Holders of at least ten per cent of an affected share class who did not consent to a variation may apply to the Tribunal within twenty-one days to cancel the variation. The Tribunal, after hearing interested parties, may disallow the variation if it would unfairly prejudice the class; otherwise it must confirm the variation. The Tribunal's decision is final. The company must forward any order to the Registrar within thirty days, with a penalty for default.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Variation of class rights: dissenting shareholders may apply to tribunal to cancel variations that unfairly prejudice the class.
Holders of at least ten per cent of an affected share class who did not consent to a variation may apply to the Tribunal within twenty-one days to cancel the variation. The Tribunal, after hearing interested parties, may disallow the variation if it would unfairly prejudice the class; otherwise it must confirm the variation. The Tribunal's decision is final. The company must forward any order to the Registrar within thirty days, with a penalty for default.
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