A member of a company may apply to the court by petition for an order under this Part on the ground that the company’s affairs are being or have been conducted in a manner which is F1unfairly prejudicial to the interests of some part of the membersF1unfairly prejudicial to the interests of its members generally or of some part of its members (including at least himself) or that any actual or proposed act or omission of the company (including an act or omission on its behalf) is or would be so prejudicial.

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 those provisions apply to a member of the company; and references to a member or members are to be construed accordingly.

In this section (and so far as applicable for the purposes of this section, in section 461(2)) 'company’ means any company within the meaning of this Act or any company which is not such a company but is a statutory water company within the meaning of the Water Act 1989.