Related party transactions: special resolution replaced by ordinary resolution; holding company-wholly owned subsidiary transactions exempted when consolidated accounts are placed. Amendment substitutes the requirement of a 'special resolution' with an ordinary 'resolution' for approval of related party transactions in the specified provisions, and adds a proviso exempting transactions between a holding company and its wholly owned subsidiary from that resolution requirement where the subsidiary's accounts are consolidated with the holding company and those consolidated accounts are placed before shareholders at the general meeting.
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.
Related party transactions: special resolution replaced by ordinary resolution; holding company-wholly owned subsidiary transactions exempted when consolidated accounts are placed.
Amendment substitutes the requirement of a "special resolution" with an ordinary "resolution" for approval of related party transactions in the specified provisions, and adds a proviso exempting transactions between a holding company and its wholly owned subsidiary from that resolution requirement where the subsidiary's accounts are consolidated with the holding company and those consolidated accounts are placed before shareholders at the general meeting.
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