MKT 3.3.8

(1) The Board of a Reporting Entity must, subject to (2), ensure that a majority of shareholders in voting approves:
(a) any alteration of the constitutional documents of the Reporting Entity including any alteration to the memorandum of association, articles of association, bylaws or any other instrument constituting the Reporting Entity;
(b) an alteration of the issued share capital of the Reporting Entity which is more than 20% of the existing issued share capital;
(c) any acquisition or disposal of an asset of the Reporting Entity where the value of the asset involved is 50% or more of the value of the net assets of the Reporting Entity as at its last published financial reports;
(d) the appointment or removal of a Director of the Reporting Entity and the terms of such appointment;
(e) the appointment or removal of the auditor of the Reporting Entity; and
(f) the placing of the Reporting Entity into voluntary liquidation.
(2) The requirement in (1) does not apply, subject to any requirements in the constitutional documents of the Reporting Entity, in relation to the appointment or removal of a Director or auditor of a Reporting Entity in circumstances where the immediate appointment or removal is necessary in the interests of the Reporting Entity.
Derived from RM81/2011 (Made 30th November 2011). [VER1/11-11]
[Amended] DFSA RM120/2013 (Made 14th July 2013). [VER4/07-13]