CORPORATIONS ACT 2001 - SECT 167AE MCI requirements--class rights

CORPORATIONS ACT 2001 - SECT 167AE

    A share in a mutual entity meets the requirement in this section if the rights attached to the share can be varied or cancelled only by special resolution of the company and either:

  (a)   by special resolution passed at a meeting of the class of members holding shares in the same class; or

  (b)   with the written consent of members with at least 75% of the votes in the class.