Section 108:
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.
108. Shareholder may require company to purchase shares
A shareholder may require a company to purchase his shares where—
(a) a special resolution is passed under—
(i) section 105 (1) (a) for the purposes of altering the constitution of a company with a view to imposing or removing a
restriction on the business or activities of the company; or
(ii) section 150 (1) (c) or (d); and
(b) the shareholder—
(i) cast all the votes, attached to shares registered in his name
and for which he is the beneficial owner, against the resolution; or
(ii) where the resolution to exercise the power was passed
under section 117, did not sign the resolution.
[S. 108 amended by s. 7 (d) of Act 14 of 2009 w.e.f. 30 July 2009.]
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Questions this section answers
- When can I require my company to buy back my shares after voting against a resolution?