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Companies Act, 2008 (Act No. 71 of 2008)

Chapter 4 : Public Offerings of Company Securities

103. Variation of agreement mentioned in prospectus


(1) Subject to subsection (2), within one year after the date of filing a prospectus, a company must not vary or agree to vary any material terms of an agreement referred to in the prospectus, other than in the ordinary course of business.


(2) A variation in the terms of an agreement, as contemplated in subsection (1), may be made or agreed by a company only if—
(a) the variation was contemplated and set out in the prospectus; or
(b) the specific terms of the variation are authorised or ratified by an ordinary resolution adopted at a general shareholders meeting.