Alteration of rights requires broad holder consent or a special resolution before adverse changes to specified securities. An issuer shall not alter the terms, including terms of issue, of specified securities that adversely affect holders except with the consent in writing of holders representing not less than three-fourths of that class or with the sanction of a special resolution passed at a meeting of the holders of that class.
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.
Alteration of rights requires broad holder consent or a special resolution before adverse changes to specified securities.
An issuer shall not alter the terms, including terms of issue, of specified securities that adversely affect holders except with the consent in writing of holders representing not less than three-fourths of that class or with the sanction of a special resolution passed at a meeting of the holders of that class.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.