Section 107: Management review by shareholders
consolidated text (as at 2018, amended since). juris shows the text as it was consolidated; it does not confirm that this is the law in force today.
107. Management review by shareholders
(1) Notwithstanding anything in this Act or the constitution of a company, the Chairperson of any meeting of shareholders shall give the shareholders a reasonable opportunity to discuss and comment on the management of the company.
(2) Notwithstanding anything in this Act or the constitution of a company, a meeting of shareholders may pass a resolution under this section
which makes recommendations to the Board on matters affecting the management of the company.
(3) Unless carried as a special resolution or unless the constitution so
provides, any recommendation under subsection (2) shall not be binding on
the Board.
Sub-Part C – Minority Buy-out Rights
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Questions this section answers
- Must shareholders be given a chance to discuss management at a meeting?
- Is a shareholder recommendation on management binding on the board?