For the disapplication of statutory pre-emption rights, what type of resolution is needed?

The need for a special resolution in the disapplication of statutory pre-emption rights stems from the nature and significance of the rights involved. Statutory pre-emption rights typically grant existing shareholders the first opportunity to purchase additional shares before they are offered to outsiders. Disapplying these rights can fundamentally alter the balance of control and ownership within the company, affecting shareholder rights and interests.

A special resolution requires a higher threshold of agreement among shareholders, typically necessitating at least a 75% majority, which reflects the importance of obtaining a strong consensus when making significant changes that can affect the structure and governance of the company. This higher requirement is intended to protect minority shareholders and ensure that such critical alterations are made with substantial backing.

The other types of resolutions, such as ordinary and unanimous resolutions, don't provide the same level of consensus required for disapplying statutory rights. An ordinary resolution requires only a simple majority, which may not adequately reflect the seriousness of the change in shareholder rights, while a unanimous resolution demands total agreement, which can be impractical in many corporate settings. Therefore, the correct answer regarding the type of resolution needed for the disapplication of statutory pre-emption rights is a special resolution.