Section 110 — Companies Act 1993: Shareholder may require company to purchase shares
Text of the provision Official document
110 Shareholder may require company to purchase shares Where— (a) A shareholder is entitled to vote on the exercise of one or more of the powers set out in— (i) Section 106(1)(a) of this Act, and the proposed alteration imposes or removes a restriction on the activities of the company; or (ii) Section 106(1)(b) or (c) of this Act; and (b) The shareholders resolved, pursuant to section 106 of this Act, to exercise the power; and (c) The shareholder cast all the votes attached to shares registered in the shareholder's name and having the same beneficial owner against the exercise of the power; or (d) Where the resolution to exercise the power was passed under section 122 of this Act, the shareholder did not sign the resolution,— that shareholder is entitled to require the company to purchase those shares in accordance with section 111 of this Act.
Official source: legislation.govt.nz
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