354. Application to class meetings: companies without a share capital

(1) The provisions of this Chapter apply (with necessary modifications) in relation to a meeting of a class of members of a company without a share capital as they apply in relation to a general meeting.

This is subject to subsections (2) and (3).
(2) The following provisions of this Chapter do not apply in relation to a meeting of a class of members—
(a) sections 320 (members' power to require directors to call general meeting) to 322 (power of members to call meeting at company's expense), and
(b) section 323 (power of Court to order meeting).
(3) The following provisions (in addition to those mentioned in subsection (2)) do not apply in relation to a meeting in connection with the variation of the rights of a class of members (a "variation of class rights meeting")—
(a) section 335 (quorum at meetings), and
(b) section 338 (right to demand a poll).
(4) The quorum for a variation of class rights meeting is—
(a) for a meeting other than an adjourned meeting, two (2) members of the class present (in person or by proxy) who together represent at least one-third of the voting rights of the class, and
(b) for an adjourned meeting, one (1) member of the class present (in person or by proxy).
(5) At a variation of class rights meeting, any member present (in person or by proxy) may demand a poll.
(6) For the purposes of this section—
(a) any amendment of a provision contained in a company's articles for the variation of the rights of a class of members, or the insertion of any such provision into the articles, is itself to be treated as a variation of those rights, and
(b) references to the variation of rights of a class of members include references to their abrogation.