Class Rights in United Kingdom

Definition of Class Rights

In accordance with the work A Dictionary of Law, this is a description of Class Rights : Rights that attach to a clearly defined class of share (e.g. preference *shares) or are conferred upon a person for so long as he is a holder of any shares. In the latter case shareholders become a class in their own right. Typical class rights would relate to *dividends, return of capital on a *winding-up, or the right to appoint a director to the board. Class rights may only be altered either in accordance with a clause in the constitutional documents of the company (See articles of association) or with the consent of the class affected under the Companies Act 1985. Shareholders from the class affected who did not agree to the alteration may apply to court to have the change cancelled within 21 days.

Shares and Membership of a Company: Variation of class rights

What constitutes a variation of class rights

Find under this subsection information about What constitutes a variation of class rights in relation to Shares and Membership of a Company: Variation of class rights.

Shares and Membership of a Company: Variation of class rights