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The Companies Act 1965, in its current form (15 August 2007), consists of 12 Parts containing 374 sections and 10 schedules (including 36 amendments). Part I: Preliminary Part II: Administration of Act
In corporate law in Commonwealth countries, an oppression remedy is a statutory right available to oppressed shareholders.It empowers the shareholders to bring an action against the corporation in which they own shares when the conduct of the company has an effect that is oppressive, unfairly prejudicial, or unfairly disregards the interests of a shareholder.
Shareholder oppression occurs when the majority shareholders in a corporation take action that unfairly prejudices the minority. It most commonly occurs in non-publicly traded companies, because the lack of a public market for shares leaves minority shareholders particularly vulnerable, since minority shareholders cannot escape mistreatment by selling their stock and exiting the corporation. [1]
The SSM was formed in 2002 under the Companies Commission of Malaysia Act 2001, assuming the functions of the Registrar of Companies and Registry of Business. [1] The main purpose of SSM is to serve as an agency to incorporate companies and register businesses as well as to provide company and business information to the public.
Administration of Islamic Law (Federal Territories) Act 1993: 505 In force Adoption Act 1952: 257 In force Age of Majority Act 1971: 21 In force Agensi Inovasi Malaysia Act 2010: 718 In force Airport and Aviation Services (Operating Company) Act 1991: 467 In force Akademi Seni Budaya dan Warisan Kebangsaan Act 2006: 653 In force
In Australia, the relevant provisions for effecting a scheme of arrangement or reconstruction are located in Part 5.1 of the Corporations Act 2001 (Cth). Section 411(1) states that where a company and its creditors or shareholders propose a compromise or arrangement, the court can order a meeting or the creditors or shareholders.
"Limited by shares" means that the liability of the shareholders to creditors of the company is limited to the capital originally invested, i.e. the nominal value of the shares and any premium paid in return for the issue of the shares by the company. A shareholder's personal assets are thus protected in the event of the company's insolvency ...
In addition, shareholders' agreements will often make provision for the following: the nature and amount of initial contribution (whether capital contribution or other) to the company; the proposed nature of the business; how any future capital contributions or financing arrangements are to be made; the governing law of the shareholders ...