Section 339. Application to class meetings

(1) The provisions of Subdivision 5 of this Division in relation to meetings shall apply to a meeting of holders of a class of shares and class of members subject to the modifications specified in this Subdivision.

(2) Sections 328 and 330 shall not apply in relation to a meeting of holders of a class of shares and class of members in connection with a meeting in respect of the variations of rights attached to the class of shares and class of members.

(3) The quorum for a variation of class rights meeting in respect of holders of a class of shares is—

(a) for a meeting other than an adjourned meeting, two persons present holding at least one-third of the number of issued shares of such class, excluding any shares of that class held as treasury shares; and

(b) for an adjourned meeting, one person present holding shares of such class,

unless otherwise provided in the constitution.

(4) The quorum for a variation of class rights meeting in respect of holders of a class of members is—

(a) for a meeting other than an adjourned meeting, two members of the class present, in person or by proxy, who together represent at least one-third of the voting rights of the class; and

(b) for an adjourned meeting, one member of the class present, in person or by proxy,

unless otherwise provided in the constitution.

(5) For the purposes of subsection (3), where a person is represented by a proxy or proxies, he is treated as holding only the shares in respect of which the proxy or proxies are authorized to exercise voting rights.

(6) For the purposes of this section—

(a) any amendment of a provision contained in the constitution for the variation of the rights attached to a class of shares or the rights of a class of members, or the insertion of any such provision into the constitution, is itself to be treated as a variation of those rights; and

(b) references to the variation of rights attached to a class of shares or a class of members include references to the abrogation.

(7) At a variation of class rights meeting, any holder of shares of such class or any member present, in person or by proxy, as the case may be, may demand a poll.