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Mining Charter violates shareholder rights – Hogan Lovells

Mining Charter Three’s arbitrary increase of empowerment shareholding to 30% violates the property rights of shareholders, and the new charter’s requirement to pay 1% of yearly turnover is not expected to survive challenges under the Companies Act and the Constitution. Property rights under the Constitution are entrenched and cannot be limited, unless through a law of general application and for reasons that are not capricious or arbitrary.