Oppression remedy

In corporate law in Commonwealth countries, an oppression remedy is a statutory right available to oppressed shareholders. It empowers the shareholders to bring an action against the corporation in which they own shares when the conduct of the company has an effect that is oppressive, unfairly prejudicial, or unfairly disregards the interests of a shareholder. It was introduced in response to Foss v Harbottle, which had held that where a company's actions were ratified by a majority of the shareholders, the courts will not generally interfere.

It has been widely copied in companies legislation throughout the Commonwealth, including:

The Companies Ordinance of Hong Kong also contains similar provisions.[7]

  1. ^ Canada Business Corporations Act, R.S.C. 1985, c. C-44, s. 241
  2. ^ Corporations Act 2001 (50, Part 2F.1). 2001.
  3. ^ Companies Act 1993 (105, ss. 174-176). 1993.
  4. ^ Companies Act, 2008 (71, s. 163). 2008.
  5. ^ Companies Act (42, s. 216). 1967.
  6. ^ Companies Act 1965 (125, s. 181). 1965.
  7. ^ Cap. 622, Part 14. 2014.