COMPANIES ACT - 1963 (ACT 179)

    Section - 217 - Injunction or Declaration in the Event of Illegal or Irregular Activity

    (1) The Court on the application of any member may by injunction restrain the company from doing any act or entering into any transaction which is illegal or beyond the power or capacity of the company or which infringes any provision of its Regulations, or from acting on any resolution not properly passed in accordance with this Code and the company's Regulations, and may declare any such act, transaction or resolution already done, entered into, or passed to be void and of no effect:

    Provided that,

    (a) nothing in this section contained shall derogate from the protection afforded by any provision of this Code to any person dealing with the company;

    (b) in relation to acts beyond the capacity or power of the company, this section shall be subject and without prejudice to the provisions of section 25 of this Code;

    (c) the right afforded to a member to apply to the Court under this section shall be without prejudice to any right he may have to institute proceedings against any director of the company pursuant to section 210 or to apply to the Court under section 218 of this Code.

    (2) In any proceedings by a member under this section the Court may, if it shall think fit, order that the member shall give security for the costs of the company and may direct that the application shall be heard in chambers.