115 Statutory derivative actionThe Companies Act 2006 includes a statutory derivative action which the shareholder may use as an alternative to a personal action or a petition for unfair prejudice. The remedy is not intended to replace the rule in Foss v Harbottle1, but instead reflects the recommendation of the Law Commission that there should be a ‘new derivative procedure with more modern, flexible and accessible criteria for determining whether a shareholder can pursue an action’2.The Act sets out a two-stage procedure for a shareholder to bring a derivative claim the
The Companies Act 2006 includes a statutory derivative action which the shareholder may use as an alternative to a personal action or a petition for unfair prejudice. The remedy is not intended to replace the rule in Foss v Harbottle1, but instead reflects the recommendation of the Law Commission that there should be a ‘new derivative procedure with more modern, flexible and accessible criteria for determining whether a shareholder can pursue an action’2.
The Act sets out a two-stage procedure for a shareholder to bring a derivative claim the
**Trials are provided to all LexisPSL and LexisLibrary content, excluding Practice Compliance, Practice Management and Risk and Compliance, subscription packages are tailored to your specific needs. To discuss trialling these LexisPSL services please email customer service via our online form. Free trials are only available to individuals based in the UK. We may terminate this trial at any time or decide not to give a trial, for any reason. Trial includes one question to LexisAsk during the length of the trial.
0330 161 1234