232Grounds for Court order

232 Grounds for Court order

The Court may make an order under section 233 if: (a) the conduct of a company’s affairs; or (b) an actual or proposed act or omission by or on behalf of a company; or (c) a resolution, or a proposed resolution, of members or a class of members of a company; is either: (d) contrary to the interests of the members as a whole; or (e) 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.

Note 1: For affairs, see sections 53 and 53AAA.

Note 2: The effect of paragraph (d) is extended in relation to a sub‑fund of a CCIV: see section 1227F.