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Version date: 12 March 2015 - onwards
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55. Power of members to complain of oppressive conduct

(1) A member of an ICAV who complains that the affairs of the ICAV are being conducted or that the powers of the directors of the ICAV are being exercised -

(a) in a manner oppressive to the member or to any of the members (including himself or herself), or

(b) in disregard of the interest of the member or any of the members as a member or members,

may apply to the High Court for an order under this section.

(2) If, on an application under subsection (1) the High Court is of the opinion that the ICAV’s affairs are being conducted or the directors’ powers are being exercised in a manner mentioned in subsection (1)(a) or (b), the High Court may, with a view to bringing to an end the matters complained of, make such order or orders as it thinks fit.

(3) The orders which the High Court may so make include the following:

(a) an order directing or prohibiting any act or cancelling or varying any transaction;

(b) an order for regulating the conduct of the ICAV’s affairs in future;

(c) a

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