Section 11: Major transactions
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.
11. Major transactions
(1) Notwithstanding section 130, the directors of any investment company
holding a Global Business Licence may enter into major transactions without having to obtain the approval of the shareholders of the company.
(2) The shareholders of any private company holding a Global Business
Licence or an Authorised Company may, by unanimous resolution, at the time of
incorporation or at any subsequent time, agree that section 130 shall not apply
to the company.
(3) A unanimous resolution under subparagraph (2) shall continue in force
until—
(a) the resolution is revoked by any shareholder; or
(b) there is any change of shareholders by reason of—
(i) transfer of shares;
(ii) issue of shares to new shareholders; or
(iii) death, bankruptcy or otherwise.
C35 – 241 [Issue 10]
Companies Act