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Structural division: books › party › CHAPTER FIVE › SECTION ONE
Article 374 — Requirements in Respect of Conduct of Business
New Ethiopian Commercial Code Proclamation No. 1243 2021 English Version
Article text
1/ A meeting may pass a decision where the necessary quorum is met and the majority of those present at the meeting support the motion.
2/ The quorum in relation to the capital is as laid down for each class of meeting under this Code; For all meetings, the quorum shall be calculated on all the shares making up the capital, less these shares which carry no voting rights under the law, taking into account the amount of capital the remaining shares represent.
3/ The memorandum of association may not vary the provisions of this Code relating to majority and quorum.