Section 455 of The Companies Act No. 17 of 2015: Resolution approving variation: exercise of voting rights
(1) This section applies to a resolution passed by a company to confer, vary, revoke or renew an approval to vary a contract under section 454.
(2) If the resolution is proposed as a written resolution, a member who holds shares to which the resolution relates is not an eligible member.
(3) A resolution proposed at a meeting of the company is not effective if—
(a) any member of the company holding shares to which the resolution relates exercises the voting rights conferred by any of those shares in voting on the resolution; and
(b) the resolution would not have been passed if the member had not done so.
(4) For the purpose of subsection (3)—
(a) a member who holds shares to which the resolution relates is taken to have exercised the voting rights conferred by those shares not only if the member votes in respect of them on a poll on the question whether the resolution should be passed, but also if the member votes on the resolution otherwise than on a poll;
(b) any member of the company may demand a poll on that question; and
(c) a vote and a demand for a poll by a person as proxy for a member are the same respectively as a vote and a demand by the member.
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- Section 456 - Resolution approving variation: disclosure of details of variation
(1) This section applies to a resolution passed by a company under section 454.
(2) The company shall ensure that a copy of the proposed variation (if it is inwriting) or a written memorandum giving...
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- Section 459 - Copy of contract or memorandum to be available for inspection
(1) This section applies to a company that has entered into—
(a) a contract approved under section 451; or
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- Section 461 - Company’s right to purchase own shares not assignable
The rights of a company under a contract authorised under section 451 or 458 are not capable of being assigned.
- Section 462 - Payments apart from purchase price to be made out of distributable profits
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(2) Subsection...
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