Control of the affairs determines whether a public company lacks substantial public interest, irrespective of director count. Whether a public company is to be treated as a company in which the public are not substantially interested turns on control of the affairs of the company, not merely on the numerical strength of its board; a company with fewer than six directors is not automatically outside public interest, since control is distinct from day to day management.
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Provisions expressly mentioned in the judgment/order text.
Control of the affairs determines whether a public company lacks substantial public interest, irrespective of director count.
Whether a public company is to be treated as a company in which the public are not substantially interested turns on control of the affairs of the company, not merely on the numerical strength of its board; a company with fewer than six directors is not automatically outside public interest, since control is distinct from day to day management.
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