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Law library · Sierra Leone · The Companies Act, 2009

Section 267, The Companies Act, 2009

In forceThe Companies Act, 2009, Sierra Leone

(1) If the court is satisfied that a petition under sections 265 and 266 is well founded, it may make such order or orders as it thinks fit for giving relief in respect of the matter complained of. (2) Without prejudice to the generality of subsection (1), the court may make one or more of the following orders that is, an order:– (a) for regulating the conduct of the affairs of the company in future; (b) for the purchase of the shares of any member by other members of the company; (c) for the purchase of the shares of any member by the company and for the reduction accordingly of the company’s capital; (d) directing the company to institute, prosecute, defend or discontinue specific proceedings, or authorising a member or members of the company to institute, prosecute, defend or discontinue specific proceedings in the name or on behalf of the company; (e) varying or setting aside a transaction or contract to which the company is a party and compensating the company or any other party to the transaction or contract; (f) directing an investigation to be made by the Commission; (g) appointing a receiver or a receiver and manager of the property of the company; (h) restraining a person from engaging in a specific conduct or from doing a specific act or thing; (i) requiring a person to do a specific act or thing. (3) Where an order under this section makes any alteration or addition to the memorandum or articles of a company, then, notwithstanding anything in any other provision of this Act but subject to the provisions of the order, the company shall not have power, without the leave of the court, to make any further alteration or addition to the memorandum and articles inconsistent with the provisions of the order but, subject to this subsection, the alteration or addition shall have effect as if it had been duly made by a resolution of the company. (4) On any application under this section by a member of a company or the Commission, the court may if it thinks fit, order the applicant to give security for the costs of the company and may, direct that the application be heard in chambers. Investigation of companies and their affairs

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