Under the Companies Act 2006, what percentage of a class of shareholders must agree to vary their class rights (unless the articles state otherwise)?

Answer options:

50%

75%

90%

100%

How to approach this question

Identify the voting threshold for varying class rights.

Full Answer

B.75%✓ Correct

To vary the rights attached to a specific class of shares, consent must generally be obtained from at least 75% in nominal value of the issued shares of that class.

Common mistakes

Thinking a simple majority (50%) is enough.

Question 33 All questions Question 35

Practice the full ACCA LW — Corporate and Business Law Practice Exam 1

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Under the Companies Act 2006, what percentage of a class of shareholders must agree to vary their class rights (unless the articles state otherwise)?

How to approach this question

Full Answer

Common mistakes

Practice the full ACCA LW — Corporate and Business Law Practice Exam 1

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