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| Commentary

Voting Rights

| Commentary

The holders of all classes of shares have equal rights of voting1 unless restrictions are specifically imposed. But a provision in the articles that holders of any class of shares shall not have votes or shall only have limited rights of voting in respect of those shares is good; and resolutions passed by those having votes may be binding even when they affect the interests of all classes.2 It has been suggested from time to time that voteless shares should be made illegal,3 but this suggestion has never been implemented, and even listed shares can be voteless provided that they are clearly designated as such.4 Shares having no voting rights, rights to dividend,

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