Meaning of oppression, Business Law and Ethics

MEANING OF "OPPRESSION":

                   The Section does not define the word "oppression" or what constitutes "oppressive conduct".  However, the Cohen Committee's Report (1947) gave the following as examples of oppressive conduct envisaged by the Section.

(a)   Where controlling directors unreasonably refuse to register transfers of the minority holdings so as to force a sale to themselves at a low price.

(b)   Where the controlling directors take excessive remuneration so as to leave virtually nothing for distribution by way of dividend.

To these, the Jenkins Committee added the following:

(a)   The issue of shares to directors and others on advantageous terms.

(b)   The passing of non-cumulative preference dividends on shares held by the minority.

In Scottish Co-operative Wholesale Society Ltd v Meyer (1958) Lord Denning observed that "the section gives a large discretion to the court" which would be "well exercised in making an oppressor make compensation to those who have suffered at his hands.

Posted Date: 1/15/2013 2:52:56 AM | Location : United States







Related Discussions:- Meaning of oppression, Assignment Help, Ask Question on Meaning of oppression, Get Answer, Expert's Help, Meaning of oppression Discussions

Write discussion on Meaning of oppression
Your posts are moderated
Related Questions
Attorney General However the office of the Attorney simply is established through sec (i) of the constitution. In the public service it is an office.  Appointment of

Characteristics of Unincorporated Associations However these are associations of persons that who associate to promote a common and lawful purpose.  Thus now they have no lega

SUBSIDIARY LEGISLATION: Moreover this is subordinate or delegated indirect legislation. In fact section 2 of the Interpretation and General Provisions Act specified subsidi

When was International Criminal Court for Rwanda established Moreover, in early 1990s the International Criminal Tribunal for Yugoslavia (ICTY) was established under UNSC Resol

Read the newspaper report from  The International Herald Tribune, starting on page  2 of this assignment, and answer the following questions:  1. What is the general notion behi

Mary has just graduated from LIM College and is in an interview with ABC Design Firm.  ABC employees several talented designers that work with ABC retail clients to design lines of

The Reports: i) An auditor's report showing:                    a) Profits or losses in each of the last FIVE years.                    b) Rate of dividend during the la

QUESTION 1 What are the scope and limitations of administrative law? Is the demarcation clear? What are the criteria by which you would decide on which side of the line a case

Fraud or improper conduct: English courts have intervened on numerous occasions and lifted the veil of incorporation in order to circumvent a fraudulent or improper design by

Effect of Ultra Vires Transaction:  An ultra vires transaction with a company may result in: a) a transfer of specific property to the company, or b) money being lent to