10Interest class: principles Empowered by s 236A
For the purposes of section 236A, an interest class may be determined in accordance with the following principles:
When you look at the law about companies, you need to understand what an interest class is. An interest class is determined by certain principles, which are explained in section 236A of the Companies Act 1993. You can find these principles in the schedule called 'Interest class: principles', which is part of this law.
You are in the same interest class as other shareholders if your rights are similar to theirs. This means you can work together on things that affect your common interest. On the other hand, if your rights are very different from those of other shareholders, you are in a different interest class. The important thing to consider is whether your legal rights against the company are similar or different.
If a company is considering a big change, like a merger, the rights of different shareholders might be affected differently. In this case, those shareholders would be in different interest classes, as explained in section 236A. This is because their rights would not be the same under the new arrangement.
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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM6183140.
For the purposes of section 236A, an interest class may be determined in accordance with the following principles: