| Commentary

99.1 Invalid amendments

| Commentary

99 Changing the articles

99.1 Invalid amendments

The problems of the standard articles may be addressed to a certain extent by amending those articles. For instance, it is common in some companies, particularly where the company is to be supported by private equity finance, to change the articles in order to create two or more different classes of shares. As a result, the parties can each be issued with their own class of shares, usually carrying different rights, if that has been agreed between the parties1.

In addition, it is very common to introduce into the articles various restrictions on the transfer

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