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
State law concerning use of force The law concerning use of force is a contentious area in international law. In pre-modern times, the state territory was extended by occupyi

Question 1: Discuss the legal relationship between a bank and its customer with reference to the responsibilities of the parties towards each other. Question 2: This qu

How to explain the apparent lack of expressions There are several ways to explain the apparent lack of expressions of the impacts. In fact, there are arguments that political

Restatement of the fundamental rule: In Bray v Ford Lord Herschell stated that the aforesaid rule is not "founded upon principles of morality" but is based on the consideratio

Article 1 - State Responsibility The laws on state responsibility are derived from state practices and various other customs and practices. However the main text on the law of

QUESTION 1 Discuss the procedural rules, ways and effectiveness how a- (i) Civil case; and (ii) criminal case is brought to court QUESTION 2 Discuss the different

Beneficial Service - Binding Contracts According to such, a contract relates service or apprenticeship is such binding on an infant - which mostly provided it is substantially

Explain the Universal Declaration of Human Rights 1948 The Universal Declaration of Human Rights 1948 (UDHR) is the nucleus of all Human Rights legal instruments from which oth

STATUTE LAW: There this is an Act of Parliament.  Whether this is law made through parliament directly in exercise of legislative power conferred upon it through the constitut

What is hire purchase?