special resolution

A resolution requiring 75% of the shareholders of a company present or by appointment of a proxy to vote in favour at a general meeting of the company to alter a company's constitution.

Usage: A special resolution is passed to change the name of a company, alterations to the memorandum or articles of association, or a reduction of capital of the company.

Related Words: ordinary resolution; board resolution; extraordinary resolution; elective resolution; annual general meeting; extraordinary general meeting; written resolution.