COMPANIES ACT NOTES SUMMARY: Section 37
INDEX
COMPANIES ACT 71 OF 2008
1) SECTIONS
>Section 37
Companies Act 71 of 2008
1. Sections
a. Section 37: Preferences, rights, limitations, and other shares terms
• All shares in the same class have the same rights or limitations
• Each issued share has a voting right unless stated otherwise by MOI i.e
limited but not taken away.
• If a company has only one type of share:
➢ SHs are free to vote on any matter to be decided
➢ SHs have the right to receive net assets of a company upon its
liquidation
Key Words
MOI =
Memorandum
of
incorporation
SH =
Shareholders
