Shareholders ultimately carry the most power in a company. Decisions are carried out via shareholders' resolutions and it is important that these resolutions are correctly done.
The Companies Act (“the Act”) specifically addresses the issue of resolutions. It also allows the Memorandum of Incorporation (MOI) to have a substantial impact on resolutions. The MOI can set the requisite number of votes to pass an ordinary or special resolution. It can also dictate when ordinary or special resolutions are required.
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