C3C2Part 30Protection of members against unfair prejudice

Annotations:
Modifications etc. (not altering text)
C3

Pts. 1-39 modified (31.12.2020) by Regulation (EC) No. 2157/2001, Art. AAA1(3) (as inserted by The European Public Limited-Liability Company (Amendment etc.) (EU Exit) Regulations 2018 (S.I. 2018/1298), regs. 1, 97 (with regs. 140-145) (as amended by S.I. 2020/523, regs. 1(2), 5(a)-(f)); 2020 c. 1, Sch. 5 para. 1(1))

Main provisions

I1C1994Petition by company member

1

A member of a company may apply to the court by petition for an order under this Part on the ground—

a

that the company's affairs are being or have been conducted in a manner that is unfairly prejudicial to the interests of members generally or of some part of its members (including at least himself), or

b

that an actual or proposed act or omission of the company (including an act or omission on its behalf) is or would be so prejudicial.

F11A

For the purposes of subsection (1)(a), a removal of the company's auditor from office—

a

on grounds of divergence of opinions on accounting treatments or audit procedures, or

b

on any other improper grounds,

shall be treated as being unfairly prejudicial to the interests of some part of the company's members.

2

The provisions of this Part apply to a person who is not a member of a company but to whom shares in the company have been transferred or transmitted by operation of law as they apply to a member of a company.

3

In this section, and so far as applicable for the purposes of this section in the other provisions of this Part, “company” means—

a

a company within the meaning of this Act, or

F2b

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