VETERANS' ENTITLEMENTS ACT 1986 - SECT 52ZZE Voting power

VETERANS' ENTITLEMENTS ACT 1986 - SECT 52ZZE

  (1)   A reference in this Subdivision to the voting power in a company is a reference to the total rights of shareholders to vote, or participate in any decision - making, concerning any of the following:

  (a)   the making of distributions of capital or profits of the company to its shareholders;

  (b)   the constituent document of the company;

  (c)   any variation of the share capital of the company;

  (d)   any appointment of a director of the company.

  (2)   A reference in this Subdivision to control of the voting power in a company is a reference to control that is direct or indirect, including control that is exercisable as a result of or by means of arrangements or practices:

  (a)   whether or not having legal or equitable force; and

  (b)   whether or not based on legal or equitable rights.

  (3)   If the percentage of total rights to vote or participate in decision - making differs as between different types of voting or decision - making, the highest of those percentages applies for the purposes of this section.

  (4)   If a company:

  (a)   is limited both by shares and by guarantee; or

  (b)   does not have a share capital;

this section has effect as if the members or policy holders of the company were shareholders in the company.