(a) Detail the conditions that have to be satisfied before an applicant can bring an action successfully under the exception to the Rule in Foss v Harbottle.(10 marks)
(b) Naliaka owns 10% of the issued shares in Pendo Limited.There are two directors Wanyonyi and Wafula who have an eccentric style of management.They own 45% of the issued shares.Naliaka understands that Wanyonyi and Wafula want to merge Pendo Ltd.with another more profitable company that the two directors wholly ow.
If this plan goes ahead,Naliaka of her legal position and protection under the law if any.(10 marks)
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