Skip to content

CS Executive · Company Law and Practice · Members and Shareholders

Himalaya Textiles Ltd obtained written consent from the Class A preference shareholders to vary their rights on 3 March. Dissenting holders wish to challenge the variation before the Tribunal. By when must the application be made under Section 48?

The application must be made within twenty-one days after the date on which the consent was given or the resolution passed. Here that runs from 3 March. The thirty-day period in the section relates to the company filing the Tribunal's order with the Registrar.

  1. AWithin twenty-one days after the date on which the consent was givenCorrect
  2. BWithin thirty days after the date on which the consent was given
  3. CWithin sixty days after the date of the next annual general meeting
  4. DWithin ninety days after the company files the resolution with the Registrar

Explanation

The proviso to Section 48(2) requires the application to be made within twenty-one days after the date the consent was given or the resolution was passed. Thirty days is the period for filing the Tribunal's order with the Registrar, which is a different step.

Did you get it right without looking?

One question tells you little. A timed set on Members and Shareholders shows your real accuracy, how long you take and where you lose marks.

Practise Members and ShareholdersFree diagnostic mock

More Members and Shareholders questions