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of <h1>Clause 48 of Companies Bill: Altering Shareholder Rights Requires 75% Consent, Tribunal Approval for Disputes, Penalties for Non-Compliance.</h1> Clause 48 of the Companies Bill, 2011 addresses the variation of shareholders' rights. It allows for the alteration of rights attached to different classes of shares with the consent of at least three-fourths of the holders of that class, either in writing or via a special resolution. If such variation affects another class, their consent is also required. Shareholders holding at least ten percent of a class can challenge the variation in a Tribunal, which must confirm the variation for it to take effect. Non-compliance with these provisions results in fines or imprisonment for the company and responsible officers.
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