Supermajority

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Related to Qualified majority: Qualified majority voting

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.

References in periodicals archive ?
The qualified majority system gives larger countries, such as the UK, more votes than smaller ones.
It adopts a common position either by unanimity or qualified majority vote (QMV), depending on the treaty article and the substantive area addressed.
In the second stage of Tsebelis' model, the EP can make a proposal that is approved if preferred to z by the Commission and by a qualified majority in the Council.
13) An extension of the three-month period would require a qualified majority vote of the Council.
It is now up to the Ministers to take a position by qualified majority on this request.
The health of our bees is of paramount importance - we have a duty to take proportionate yet decisive action to protect them wherever appropriate," he added, reiterating his determination to receive qualified majority support at the Appeal Committee for his proposal.
Since internal market laws are determined by qualified majority voting, Gordon Brown will find himself in a weak position with few friends.
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.
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.
I argue that under the current cooperation procedure, the EP has an important power: it can make proposals that, if accepted by the Commission, are easier for the Council of Ministers to accept than to modify (only qualified majority being required for acceptance but unanimity, for modification).
Furthermore, the Board proposes to delete Article 12, which requires a qualified majority of 3/4 of the votes cast for the amendment of Articles 2, 4 and 12.
A qualified majority of votes were cast for O'Reilly in the third ballot.

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