Supermajority

Provision in a company's charter requiring a majority of, say, 80% of shareholders to approve certain changes, such as a merger.

Supermajority

A percentage of shareholders, usually 67% to 90%. A supermajority is often required for a company to take certain actions, such as amending the charter. Some companies require supermajorities as anti-takeover measures. For example, a company may require two-thirds of shareholders to approve of a merger or acquisition. Supermajority provisions exist primarily to ensure the company's independent survival, but they may limit the board of directors' authority in even a friendly takeover.

supermajority

A specified number of votes greater than a 51 percent simple majority. Some condo association bylaws,corporation bylaws,or neighborhood association rules require a supermajority for certain actions, such as making special assessments or amending the bylaws. The rules for the organization will specify the size of the supermajority, which can be anything from 67 to 95 percent.

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References in periodicals archive

The qualified majority system gives larger countries, such as the UK, more votes than smaller ones.

EU foot and mouth move 'condemnation of Labour'

The Commission may take the latter action only in accordance with a complicated "comitology" procedure that provides a role for the Banking Advisory Committee and for the Council, with veto power granted to a simple majority of the Council.(13) An extension of the three-month period would require a qualified majority vote of the Council.

Mutual recognition: integration of the financial sector in the European Community

The ministers were given three months to take a decision through qualified majority vote.

GMOS : GM MAIZE APPROVAL TO BE DECIDED BY WRITTEN PROCEDURE

Since internal market laws are determined by qualified majority voting, Gordon Brown will find himself in a weak position with few friends.

The financial folly of EU membership; VOICE OF THE NORTH

A revised draft published by the Irish government last night recommends abandoning efforts to move to qualified majority voting for EU-level decisions involving taxation.

PM wins EU veto victory

French finance minister Laurent Fabius, in a jibe at the UK, said tonight that things would have been much easier if the savings tax issue had been subject to qualified majority voting, instead of unanimity.

Taxation 'a matter of national indentity'

The French delegation points out that, while the compromises failed to obtain the support of a qualified majority at the 29 November Coreper meeting - as reported in the article entitled Posting of workers hits fresh impasse' (Europolitics 4763) - the Lithuanian Presidency has said that it is working on another compromise proposal.

POSTING OF WORKERS: PRESIDENCY DRAFTING ANOTHER COMPROMISE