Howard Smith Ltd v Ampol Petroleum Ltd
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Howard Smith Ltd v Ampol Petroleum Ltd [1974] UKPC 3 is a leading company law case, concerning the duty of directors to act only for "proper purposes". This duty has been codified into the Companies Act 2006 section 171, and arises particularly in cases involving takeover bids.
Quick Facts Howard Smith Ltd v Ampol Petroleum Ltd, Court ...
Howard Smith Ltd v Ampol Petroleum Ltd | |
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Court | Judicial Committee of the Privy Council |
Decided | 14 February 1974 |
Citation(s) | [1974] UKPC 3, [1974] AC 821; [1975] 1 NSWLR 68 |
Case history | |
Prior action(s) | Howard Smith Ltd v Ampol Petroleum Ltd [1972] 2 NSWLR 850 |
Court membership | |
Judge(s) sitting | Lord Wilberforce, Lord Diplock, Lord Simon of Glaisdale, Lord Cross of Chelsea, Lord Kilbrandon |
Keywords | |
Directors' duties, improper purpose, hostile takeover |
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