Chapter 7: Remedies and Enforcement
Part B: Rights to seek specific remedies

s161: 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.

              Related Sections

              s77: Liability of directors and prescribed officers

              Related Regulations

              No related regulations.

              Related Notes

              No related note.

              Related Forms

              No related forms.