The Companies Act No. 17 of 2015Section 309 of The Companies Act No. 17 of 2015: Application of Division to meetings of classes of members of company having no share capital
(1) Subject to subsection (2) and (3), Division 3 applies, with necessary modifications, to a meeting of holders of a class of members of a company having no share capital as it applies to a general meeting of the company.
(2) Sections 277 to 280 do not apply to a meeting of class of members of a company having no share capital.
(3) In addition to the sections specified in subsection (2), sections 292 and 295 do not apply to a meeting convened to pass a resolution to vary rights of a class of members of a company having no share capital.
(4) The quorum for a meeting referred to in subsection (3) is—
(a) for a meeting other than an adjourned meeting, at least two members of the class present in person or by proxy who together represent at least one-third of the voting rights of the class; and
(b) for an adjourned meeting, one member of the class present in person or by proxy.
(5) At such a meeting, any member present in person or by proxy may demand a poll.
(6) For the purposes of this section—
(a) any amendment of a provision contained in a company's articles for the variation of the rights of a class of members, or the insertion of any such provision into the articles, is itself taken to be a variation of those rights; and
(b) a reference to the variation of rights of a class of members includes a reference to the abrogation of those rights.
Check the current authoritative text and amendment history before relying on this provision.
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