Rule 4 - Special Resolution. - Unlisted Public Companies (Preferential Allotment) Rules, 2003

1 [ 4. Special Resolution.- (1) No issue of Shares or any other instruments convertible into shares including hybrids convertible into shares on a prefrential basis can be made by a company unless authorised by its articles of association and unless a special resolution passed by the member in a general meeting authorising the Board of Directors to make such issue. (2) The special resolution referred to in sub-rule (1) shall be acted upon within a period of twelve months. ] ************ NOTES:- 1. Substituted vide NOTIFICATION NO. G.S.R.879 (E) dated 14-12-2011 before it was read as Special Resolution.- 04. No issue of shares on a preferential basis can be made by a company unless authorized by its articles of association and unless a special resolution is passed by the members in a General Meeting authorizing the Board of Directors to issue the same. The special resolution shall be acted upon within a period of 12 months.