97 Changing the statutory contract

The statutory contract imposed by the companies legislation may be varied with considerably less than unanimous consent1. This is because the Companies Act 2006 endows the company with certain statutory powers, including the power to change its constitution by the shareholders passing a special resolution in general meeting. In this way, a company may change its name2 and its articles3.

The company may also make certain changes to its share capital, for example, by varying the rights attached to any class of shares in the company4. In addition, the company may redeem5 or buy back6 its

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