PART 4Protected Cell Companies

CHAPTER 10Shareholder resolutions

Shareholders acting informally (the Duomatic principle)136.

(1)

Any enactment or rule of law relating to a matter specified in paragraph (3) applies to voting shares issued on behalf of the core of the protected cell company as it applies to shares issued by a company registered under the Companies Act 2006.

(2)

Nothing in this Chapter affects an enactment or rule of law relating to a matter specified in paragraph (3).

(3)

The matters mentioned in paragraphs (1) and (2) are—

(a)

things done by the shareholders otherwise than by passing a resolution;

(b)

circumstances in which a shareholders' resolution is or is not treated as having been passed;

(c)

cases in which a person is precluded from alleging that a shareholders' resolution has not been duly passed.