36 Rights and powers attaching to shares

(1)

Subject to subsection (2), a share in a company confers on the holder—

(a)

the right to 1 vote on a poll at a meeting of the company on any resolution, including any resolution to—

(i)

appoint or remove a director or auditor:

(ii)

adopt a constitution:

(iii)

alter the company’s constitution, if it has one:

(iv)

approve a major transaction:

(v)

approve an amalgamation of the company under section 221:

(vi)

put the company into liquidation:

(b)

the right to an equal share in dividends authorised by the board:

(c)

the right to an equal share in the distribution of the surplus assets of the company.

(2)

Subject to section 53, the rights specified in subsection (1) may be negated, altered, or added to by the constitution of the company or in accordance with the terms on which the share is issued under section 41(b) or section 42 or section 44 or section 107(2), as the case may be.

Section 36(2): amended, on 3 May 2001, by section 3 of the Companies Act 1993 Amendment Act 2001 (2001 No 18).

Section 36(2): amended, on 30 June 1997, by section 2 of the Companies Act 1993 Amendment Act 1997 (1997 No 27).

Section 36(2): amended, on 1 July 1994, by section 4 of the Companies Act 1993 Amendment Act 1994 (1994 No 6).