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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