During a company’s business rescue proceedings, each holder of any issued security of the company is entitled to—
| (a) |
notice of each court proceeding, decision, meeting or other relevant event concerning the business rescue proceedings; |
| (b) |
participate in any court proceedings arising during the business rescue proceedings; |
| (c) |
formally participate in a company’s business rescue proceedings to the extent provided for in this Chapter; |
| (d) |
vote to approve or reject a proposed business rescue plan in the manner contemplated in section 152, if the plan would alter the rights associated with the class of securities held by that person; and |
| (e) |
if the business rescue plan is rejected, to— |
| (i) |
propose the development of an alternative plan, in the manner contemplated in section 153; or |
| (ii) |
present an offer to acquire the interests of any or all of the creditors or other holders of the company’s securities in the manner contemplated in section 153. |
Special Investigating Units and Special Tribunals Act, 1996
