Companies Act 2014 section 834

Relief for company in respect of prohibited transaction

Section 834 allows the court to grant relief to a company, or to any person adversely affected, where a restricted person's involvement has caused the company to breach provisions of the Act.

• The court may grant relief where it considers it just and equitable to do so, either to a company that has contravened the Act because of a restricted person, or to any person adversely affected by that contravention.
• Relief will not be granted to a company if the restricted person concerned properly complied with their obligation under section 825 to notify the company before accepting appointment as director or secretary.
• The court has broad discretion in deciding what form of relief to grant, including exempting the company from the provision that was breached.
• Any relief granted may be subject to whatever terms and conditions the court considers appropriate.