In home unit companies, each group of shares allocated to a home unit constitutes a separate class of shares, and the rights attached to those shares — including rights derived from markings on the plan attached to the articles — are class rights protected by the Modification of Rights article. Reid House Pty Ltd v Beneke is disapproved: a Modification of Rights article applies even where all shares in a class are held by a single holder. Articles conferring rights of occupation in home unit companies create contractual licences, not leasehold interests.
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