25
25
1984 Ed.]
Companies
[CAP. 32
(2) An application under this section may be made-
(a) by the holders of not less in the aggregate than 5 per cent in nominal value of the company's issued share capital or any class thereof or, if the company is not limited by shares, not less than 5 per cent of the company's members; or
(b) by the holders of not less than 5 per cent of the company's debentures entitling the holders to object to alterations of its objects.
(3) An application under this section shall be made within 28 days after the date on which the resolution altering the company's objects was passed, and may be made on behalf of the persons entitled to make the application by such one or more of their number as they may appoint in writing for the purpose.
(4) On an application under this section the court may make an order confirming the alteration either wholly or in part and on such terms and conditions as it thinks fit, and may, if it thinks fit, adjourn the proceedings in order that an arrangement may be made to the satisfaction of the court for the purchase of the interests of dissentient members, and may give such directions and make such orders as it may think expedient for facilitating or carrying into effect any such arrangement.
(5) The debentures entitling the holders to object to alterations of a company's objects shall be any debentures secured by a floating charge that were issued or first issued before 15 February 1963, or form part of the same series as any debentures so issued, and a special resolution altering a company's objects shall require the same notice to the holders of any such debentures as to members of the company.
In default of any provisions regulating the giving of notice to any such debenture holders, the provisions of the company's articles regulating the giving of notice to members shall apply.
(6) [Deleted, 6 of 1984, s. 8]
(7) Where a company passes a resolution altering its objects-
(a) if no application is made with respect thereto under this section, it shall within 15 days after the end of the period for making such an application deliver to the Registrar a printed copy of its memorandum as altered and certified as correct by an officer of the company; and
(b) if such an application is made it shall-
(i) forthwith give notice of that fact to the Registrar; and
(ii) within 15 days after the date of any order annulling or confirming the alteration, deliver to the Registrar an office copy of the order and, in the case of an order confirming the alteration, a printed copy of its memorandum as altered and certified as correct by an officer of the company.
Page 245
Page 246
25
25
1984 Ed.]
Companies
[CAP. 32
(2) An application under this section may be made- (a) by the holders of not less in the aggregate than 5 per cent in nominal value of the company's issued share capital or any class thereof or, if the company is not limited by shares. not less than 5 per cent of the company's members; or (b) by the holders of not less than 5 per cent of the company's debentures entitling the holders to object to alterations of its objects.
(3) An application under this section shall be made within 28 days after the date on which the resolution altering the company's objects was passed, and may be made on behalf of the person's entitled to make the application by such one or more of their number as they may appoint in writing for the purpose.
(4) On an application under this section the court may make an order confirming the alteration either wholly or in part and on such terms and conditions as it thinks fit, and may, if it thinks fit, adjourn the proceedings in order that an arrangement may be made to the satisfaction of the court for the purchase of the interests of dissentient members, and may give such directions and make such orders as it may think expedient for facilitating or carrying into effect any such arrangement.
(5) The debentures entitling the holders to object to altera- tions of a company's objects shall be any debentures secured by a floating charge that were issued or first issued before 15 February 1963, or form part of the same series as any debentures so issued, and a special resolution altering a company's objects shall require the same notice to the holders of any such debentures as to members of the company.
In default of any provisions regulating the giving of notice to any such debenture holders, the provisions of the company's articles regulating the giving of notice to members shall apply.
(6) [Deleted, 6 of 1984, s. 8]
(7) Where a company passes a resolution altering its objects- (a) if no application is made with respect thereto under this section, it shall within 15 days after the end of the period for making such an application deliver to the Registrar printed copy of its memorandom as altered and certified as correct by an officer of the company; and
(b) if such an application is made it shall-
(i) forthwith give notice of that fact to the Registrar; and
(ii) within 15 days after the date of any order annulling or confirming the alteration, deliver to the Registrar an office copy of the order and, in the case of an order confirming the alteration, a printed copy of its memoran- dum as altered and certified as correct by an officer of the company.
Page 245Page 246
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