Companies Act, 1973 (Act No. 61 of 1973)Chapter IV: Formation, Objects, Capacity, Powers, Names, Registration and Incorporation of CompaniesAlteration of Memorandum56. Alteration of memorandum as to special conditions and other provisions |
| 1) | Subject to the provisions of subsection (3) and unless prohibited by the condition itself, a special condition contained in the memorandum may be altered by special resolution or in the manner prescribed in any such special condition. |
| 2) | Any private company may at any time by special resolution and with the written consent of each person being then a director of the company, incorporate in its memorandum the provision referred to in section 53(b). |
| 3) | A private company may by special resolution alter or remove the provision referred to in section 53(b) and contained in its memorandum provided the alteration or removal is confirmed by the Court if it is satisfied that such alteration or removal would be just and equitable. |
| 4) | Any other provision of the memorandum of a company may be altered by special resolution. |
| 5) | Nothing in this section shall authorise any alteration of a memorandum constituting a variation or abrogation of the special rights of any class of members, save and except that such rights may be altered or abrogated in the manner prescribed in the memorandum for such variation or abrogation. |