Section 781 of The Companies Act No. 17 of 2015: Application to Court by Attorney General for order under section 783

    

(1) This section applies to a company in respect of which—
(a) the Attorney General has received an inspector's report under Part XXX;
(b) the Attorney General has exercised the powers under section 1000 or 1001;
(c) the Capital Markets Authority or an officer authorised by it has exercised a power conferred by section 13 or 13A of the Capital Markets Act (Cap. 485A) to obtain information or to carry out an inquiry; or
(d) the Capital Markets Authority has received a report from an officer authorised to carry out an inquiry under section 13A of that Act.
(2) The Attorney General may make an application for an order under section782 if satisfied—
(a) that the affairs of a company to which this section applies are being, or have been, conducted in a manner that is oppressive or is unfairly prejudicial to the interests of its members generally or to a section of its members; or
(b) that an actual or proposed act or omission of such a company (including an act or omission on its behalf) is or would be oppressive or so prejudicial.
(3) The Attorney General may make such an application in addition to, or instead of, making an application for the liquidation of the company.


Disclaimer: This document is not to be taken as legal advise.

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