- class rights
Each class of share has specific rights, usually contained in the Articles of Association or the documentation creating the shares. These relate to dividend, return of capital, voting and other similar rights. Any variation of class rights must be approved by resolutions at separate meetings of shareholders in that class (section 125 Companies Act 1985).
Easyform Glossary of Law Terms. — UK law terms.
- class rights
rights that attach to a particular class of shares but not to another class or to shareholders generally; such rights may be created by a company's memorandum of association or articles of association and may relate to such matters as the right to a dividend, the right to share in surplus assets if the company is wound up, and the right to attend and vote at company meetings.The particular relevance relates to occasions when the company in general meeting wants to alter its capital (or take other action) that will affect the rights of particular classes of shareholders differently from others.
Collins dictionary of law. W. J. Stewart. 2001.
- class rights
Rights attaching to a particular class of shares.Related links
Practical Law Dictionary. Glossary of UK, US and international legal terms. www.practicallaw.com. 2010.
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