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
Capacity - Element of Contract Capacity to Contract However 'capacity' may be described like the legally documented right of a person to enter with a legally binding ag

Question 1: i) What is the rationale of centralized and decentralized bargaining? ii) Give examples of benefits associated with centralized bargaining. iii) Give exam

Class Meetings: "Class meetings" are not provided for by the Act.  however, a class meeting may be held pursuant to the provisions of the company articles of association, if a

The purpose of the assignment is to allow you to undertake independent research into a particular aspect of law, to reflect on and consider particular legal issues and to apply you

Mr. Hellerstein is a professor at Tahoe Law School located in Tahoe California. He lives in Nevada and commutes to Tahoe Law School, which is only a 50-mile, commute one way.  Duri

What are the international policies  -  Policy process In international policy, (politics) each state is part of a system and each is the guardian of its own security and indep

Why International law is very different from domestic law International law is very different from domestic law because in domestic disputes there are Courts to adjudicate upon

What is the meaning of Pareto inefficient outcomes Policy coordination is, therefore, designed to avoid Pareto inefficient outcomes. In absence of a supranational authority tha

Deferred Debts - Disclaimer of assets: Deferred Debts: A debt owed to a member as member, i.e. an unpaid dividend, is a deferred debt paid only when ordinary debts have b

PROOF OF DEBTS:                                       Many of the rules of bankruptcy apply to the discharge of the company's debts: s.310.  The liquidator must obviously requ