COMPANIES ACT (NORTHERN IRELAND) 1960

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COMPANIES ACT (NORTHERN IRELAND) 1960 - SECT 201



201.(1) Any member of a company who complains that the affairs of the company
are being conducted or that the powers of the directors of the company are
being exercised in a manner oppressive to him or some part of the members
(including himself), or in disregard of his or their proper interests as
member or members respectively, may apply to the court for an order under this
section.

(2) In a case falling within [section 163(4)] the Ministry may apply for an
order under this section.

(3) If on any application under sub-section (1) or sub-section (2) the court
is of opinion that the company's affairs are being conducted or that the
directors' powers are being exercised as aforesaid, the court may, with a view
to bringing to an end the matters complained of, make such order as it thinks
fit, whether directing or prohibiting any act or cancelling or varying any
transaction or for regulating the conduct of the company's affairs in future,
or for the purchase of the shares of any members of the company by other
members of the company or by the company and, in the case of a purchase by
the company, for the reduction accordingly of the company's capital, or
otherwise.

(4) Where an order under this section makes any alteration in or addition to
any company's memorandum or articles, then, notwithstanding anything in any
other provision of this Act but subject to the provisions of the order,
the company concerned shall not have power without the leave of the court to
make any further alteration in or addition to the memorandum or articles
inconsistent with the provisions of the order; but, subject to the foregoing
provisions of this sub-section, the alterations or additions made by the order
shall be of the same effect as if duly made by resolution of the company and
the provisions of this Act shall apply to the memorandum or articles as so
altered or added to accordingly.

(5) An office copy of any order under this section altering or adding to, or
giving leave to alter or add to, a company's memorandum or articles shall,
within fourteen days after the making thereof, be delivered by the company to
the registrar of companies for registration; and if a company fails to comply
with this sub-section, the company and every officer of the company who is in
default shall be liable to a default fine.

(6) The personal representative of a person who, at the date of his death was
a member of a private company, or any trustee of, or person beneficially
interested in, the shares of a private company by virtue of the will or
intestacy of any such person, may apply to the court under sub-section (1) for
an order under this section and, accordingly, any reference in that
sub-section to a member of a company shall be construed as including a
reference to any such personal representative, trustee or person beneficially
interested as aforesaid or to all of them.

Modes of winding up.

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Northern Irish Legislation

COMPANIES ACT (NORTHERN IRELAND) 1960 - SECT 201