Supreme Court Act, 1959
R 385
Companies Act, 2008 (Act No. 71 of 2008)Chapter 7 : Remedies and EnforcementPart B : Rights to seek specific remedies161. 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. |
