Section 242 - Powers of Tribunal

Company oppression remedies: Tribunal may order regulation, share purchases, director removal and other equitable corporate measures.

Tribunal may, where company affairs are conducted in a prejudicial or oppressive manner and winding up would unfairly prejudice members, make orders to end the complained conduct. Illustrative powers include regulating future conduct, ordering share purchases and capital reduction, restricting transfers, modifying or terminating agreements with officers or others (subject to notice/consent), setting aside recent fraudulent-preference transactions, removal of directors or managers, recovery of undue gains, appointing directors to report to the Tribunal, imposing costs, and altering memorandum or articles which must be filed with the Registrar.