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Companies Act, 2008 (Act No. 71 of 2008)

Chapter 7 : Remedies and Enforcement

Part B : Rights to seek specific remedies

161. Application to protect rights of securities holders

 

 

1) A holder of issued securities of a company may apply to a court for—
a) an order determining any rights of that securities holder in terms of this Act, the company’s Memorandum of Incorporation, any rules of the company, or any applicable debt instrument; or
b) any appropriate order necessary to—
i) protect any right contemplated in paragraph (a); or
ii) rectify any harm done to the securities holder by—
aa) the company as a consequence of an act or omission that contravened this Act or the company’s Memorandum of Incorporation, rules or applicable debt instrument, or violated any right contemplated in paragraph (a); or
bb) any of its directors to the extent that they are or may be held liable in terms of section 77.

 

2) The right to apply to a court in terms of this section is in addition to any other remedy available to a holder of a company’s securities—
a) in terms of this Act; or
b) in terms of the common law, subject to this Act.