Section 88
of International Business Companies Order, 2000
Section 88
(1)
Two or more members of an IBC may by agreement in writing provide that in exercising any voting rights, the shares held by them shall be voted –
(a)
as provided in the agreement;
(b)
as the parties to the agreement may agree; or
(c)
as determined in accordance with such procedure as they may agree upon.
(2)
Where an agreement has been made under this section, the IBC to whose shares it relates shall not be required to take any account of the agreement unless a copy of the agreement is filed at the registered office of the IBC; and, where such a copy is so filed, it shall be open to inspection by the parties to the agreement during business hours and by other persons in accordance with section 106.
Incorporating amendments until S 53/2017
(Clean Vesion) NANI/zimah _ as of 11 February 2020
79
BLUV as at 20th June 2017
(3)
No agreement made under this section shall be effective for a period of more than ten years from the date it is made; but, at any time within the two years immediately preceding the date of the expiry of the agreement, the parties may extend its duration for such additional period, not exceeding ten years at any one time, as they wish.
(4)
Where an agreement is extended under subsection (3), subsection (2) shall apply in relation to the extension agreement as it applies in relation to the original agreement.
General provisions as to voting trusts and agreements.