The constitution of the company is adopted in many ways; the first way is to adopt the constitution by registering in which each applicant agrees with the terms of the constitution before becoming member of the company. Another way of adopting the constitution is after the registration in which a special resolution is passed that adopts a constitution (Campell, 2013). A company can modify the constitution developed after passing a special resolution. In this special resolution 21 days notice is present for the companies that are listed publically and agreement under which special resolution is passed consists of 75% of the majority votes that are in the favour of the amendment.
Amendment in the constitution
The company can only repeal its constitution after getting 75% of the majority votes by the members and this is how special resolution will be passed. If there is some contract then all the parties need to agree with the change in terms and conditions of the contract (Mancuso, 2013). This majority of 75% will give the right to the members of the company to look forward into the amended constitution and minorities in votes will have to bind with the new constitution clauses.
Another factor is present that explains about the amendment in the constitution that may not be effective when amendment is passed unanimously by the stakeholders or some of the members are retired from the company.
Current situation of AHA
After looking at the rules and regulations of the corporations act and constitution it can be stated that Grace is not in a good position right now. She can only save herself by getting majority members on her side. It looks that other directors and stake holders of the company are not happy with her performance and they want to hire new accountant because she is charging too much. In this case it is not mentioned that other members of the company are following full standards of amending the constitution like they have to inform 21 days before about the amendment and this decision cannot be taken unanimously. Agreement by 75% members of the organization is required. In this situation a table of replaceable rules is followed that mentions about the objects that are subject to the amendment.