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Chapter 8

Minority protection

Minority protection concerning the variation of class rights is provided in s.633 CA06:

If holders of > 15% of

class of shares
affected object to the
variation

May apply to courts
within 21 days to
cancel variation

Petitioner must prove
that the variation is

‘unfairly prejudicial’.

Does the variation merely Does variation change the
affect the value, enjoyment
or power derived from the rights themselves? If so,

rights? If so, court will allow court will cancel the
variation.
the variation.

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