What is the process by which shareholders can object to a variation of rights?

The correct answer is that shareholders can apply to the court with 15% of issued shares to object to a variation of rights. This process is grounded in corporate law, where specific protections are provided to minority shareholders against changes that could adversely affect their rights.

In this context, the requirement for shareholders to hold at least 15% of the issued shares serves as a threshold to ensure that there is a significant minority interested in contesting the variation, which reflects a form of democratic process within the company. It encourages collective action among shareholders, emphasizing the importance of protecting minority interests while still allowing corporations to make necessary changes.

This option distinguishes itself by involving a formal legal remedy, where shareholders can seek protection from the court if they feel that their rights are being unfairly altered. It also reflects the legal framework that is often in place to regulate the powers of the company in relation to shareholders.

Other options present less formal or direct means of objection. Filing a complaint with the company may not provide the necessary enforceability of a shareholder's rights. Requesting a general meeting might not be sufficient to formally object to variations, as it may not lead to immediate or legal remedies. Notifying the board of directors, while a step in communication, does not necessarily