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CORPORATIONS ACT 2001 - SECT 1227J Varying and cancelling class rights

CORPORATIONS ACT 2001 - SECT 1227J

Varying and cancelling class rights

    In its application to a CCIV whose constitution does not set out the procedure for varying or cancelling rights attached to shares in a class of shares, subsection   246B(2) is taken to require a special resolution of the members of the sub - fund of the CCIV to which the shares are referable, instead of a special resolution of the CCIV.

Note:   Paragraphs 246B(2)(c) and (d) will also require either a special resolution of members of the affected class or the written consent of members with at least 75% of the votes in the class.

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