PART 4Protected Cell Companies

CHAPTER 9Shares and shareholders

SECTION 1Shares

Amendments to the instrument of incorporation95

1

A protected cell company may only amend its instrument of incorporation if the proposed amendment is approved—

a

by written resolution of the persons holding voting shares issued on behalf of the core of the protected cell company; or

b

by a resolution passed in a general meeting by a simple majority of the total voting rights of those shareholders who are entitled to vote on the resolution at the meeting.

2

But paragraph (1) does not prevent the protected cell company's instrument of incorporation requiring a higher majority or unanimity.