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Commentary

114 Background

COMPANIES vol 10(1) Directors and Other Officers, Shareholders, Shares and Share Capital
| Commentary

114 Background

| Commentary

G: SHAREHOLDERS’ REMEDIES

1: DERIVATIVE CLAIMS UNDER THE COMPANIES ACT 2006

114 Background

Many of the provisions in the companies legislation are designed to prevent directors from abusing their power or making a profit out of their position at the expense of the company’s shareholders. Examples include the statutory codification of directors’ duties in the Companies Act 2006, the requirements for directors to obtain the approval of the shareholders for certain transactions with the company and even the right given to members to requisition a general meeting and put a resolution on the agenda1. The ultimate control could be seen as the

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