Question

definition of Special Resolution
GPT 3.5
A special resolution refers to a formal decision made by the majority of a company's shareholders or members that requires a higher level of support than ordinary resolutions. This type of resolution is typically used for significant changes or actions that affect the company's structure or constitution, such as altering the articles of association, changing the company name, approving major investments or acquisitions, amending the company's share capital, or winding up the company. The specific requirements regarding the level of support needed to pass a special resolution may vary depending on the jurisdiction and the company's governing documents. In general, the threshold for passing a special resolution is usually higher, often requiring a vote of at least 75% or two-thirds of the shareholders or members present at a properly convened meeting.