s 63 Special resolutions
63.—(1) A resolution is considered a special resolution when it has been passed by the unitholders of a registered business trust holding in aggregate at least three-fourths of the voting rights of all the unitholders of the registered business trust who, being entitled to do so, vote in person or, where proxies are allowed, by proxy present at a general meeting of which at least 21 days’ written notice specifying the intention to propose the resolution as a special resolution has been duly given. (2) Despite subsection (1), if it is so agreed by a majority in number of the unitholders of a registered business trust having the right to attend and vote at the meeting, being a majority which together holds at least 95% of the total voting rights that could be exercised at that meeting, a resolution may be proposed and passed as a special resolution at a meeting of which written notice of a period less than that required under subsection (1) has been given. (3) At any meeting at which a special resolution is submitted, a declaration of the chairperson that the resolution is carried is, unless a poll is demanded, conclusive evidence of the fact without proof of the number or proportion of the votes recorded in favour of or against the resolution. (4) At any meeting at which a special resolution is submitted, a poll is deemed to be effectively demanded if demanded —(a) by such number of unitholders of a registered business trust for the time being entitled under the trust deed of the registered business trust to vote at the meeting as is specified in the trust deed, but it is not in any case necessary for more than 5 unitholders to make the demand; or (b) if no such provision is made by the trust deed, by 3 unitholders so entitled, or by one unitholder or 2 unitholders so entitled, if that unitholder holds or those 2 unitholders together hold at least 10% of the total voting rights of all the unitholders having a right to vote at the meeting. (5) In computing the majority on a poll demanded on the question that a special resolution be passed, reference is to be had to the number of votes cast for and against the resolution and to the number of votes to which each unitholder is entitled by this Act or the trust deed of the registered business trust.