Grounds for Court order
232 Grounds for Court order
The Court may make an order under section 233 if:
the conduct of a company’s affairs; or
an actual or proposed act or omission by or on behalf of a company; or
a resolution, or a proposed resolution, of members or a class of members of a company;
is either:
contrary to the interests of the members as a whole; or
oppressive to, unfairly prejudicial to, or unfairly discriminatory against, a member or members whether in that capacity or in any other capacity.
For the purposes of this Part, a person to whom a share in the company has been transmitted by will or by operation of law is taken to be a member of the company.
For affairs, see sections 53 and 53AAA.
The effect of paragraph (d) is extended in relation to a sub‑fund of a CCIV: see section 1227F.
This Act’s bill:Explanatory memorandumSecond reading speech
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