Which document governs the variation of rights for shares in a company?

The articles of association or the procedural provisions laid out in company law are the primary governing documents regarding the variation of rights for shares in a company. These documents establish the structure of the company, specifying how powers and responsibilities are divided among directors and shareholders, as well as outlining the specific rights associated with different classes of shares.

When it comes to the variation of rights for shares, the articles of association typically contain specific stipulations on how changes are made and the procedures that must be followed. This includes the process for altering share rights, which often requires approval by a certain majority of shareholders. Additionally, the relevant provisions of corporate law, which may be detailed in acts governing corporations in a jurisdiction, also play a critical role in defining and guiding any changes to share rights.

While shareholder agreements and company resolutions can also be important in a company's governance, they serve complementary roles. A shareholder agreement may address particular arrangements between shareholders, and overall resolutions might respond to specific situations; however, they do not hold the primary authority to vary the rights associated with shares, which remains under the domain of the articles of association and applicable law.