This chapter is concerned with the rights of shareholders. The greater part of this chapter is concerned with the way in which minority shareholders can protect themselves against the actions of the majority. This is at the heart of the law on shareholder rights because the basic proposition is that the majority shareholders can vote for whatever they want, and therefore the most interesting legislation and case law have related to the minority shareholders trying to resist a decision of the majority. Two further issues are also considered: rst, the power to remove directors, and second, the legal basis on which dividends are paid to shareholders. Chapter 4 considered the rights of shareholders as they relate speci cally to the company’s constitution.