ultra vires


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Related to ultra vires: Ultra Vires Act

Ultra Vires Activities

Activities in which a publicly-traded company engages that are outside the powers delegated to it in its charter and/or bylaws. Every publicly-traded company has a charter and bylaws, which both outline the powers of executives and the board of directors and actions they are allowed to take. While both the charter and the bylaws can be amended by shareholders, companies sometimes take actions outside the scope of their charters without first receiving permission to do so. If shareholders deem ultra vires activities to be harmful to them or to have the potential of harm, they may sue the company for damages.

ultra vires

(of an action by a JOINT-STOCK COMPANY) exceeding its powers as defined in its MEMORANDUM OF ASSOCIATION. For example, if a company's memorandum authorizes it to trade in the motorcar business, and its directors then set up an ice-cream business, then they may be regarded as trading ultra vires and the company's CONTRACTS with ice-cream suppliers and customers may be regarded as void. To avoid falling foul of the ultra vires doctrine, companies now tend to draw up very wide-ranging business powers in the MEMORANDUM OF ASSOCIATION.
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Thus and otherwise, the Petitioner is advised and states said purported appointments of the 4th and 5th Respondents to the Board of Ministers as well as the purported appointment of the 1st, 3rd and 5th Respondents as Ministers in charge of the several portfolios held by the Petitioner are ultra vires the powers of the 7th Respondent, unlawful, void ab initio and of no force and effect in law.
It has been suggested that the use of the term ultra vires to cover all of the above sub-classifications is no longer appropriate.
A declaration of court that any banking licence issued to anybody, person or institution pursuant to the purported regulation issued by the CBN in respect of non-interest financial services in Nigeria under the principle of Islamic commercial jurisprudence is unlawful, illegal, ultra vires, null and void.
WHERE FOUR APPELLANTS SUSPECTED OF LINKS TO TERRORISM HAD CHALLENGED ORDERS IN COUNCIL UNDER WHICH UK TREASURY HAD FROZEN THEIR ASSETS, UNITED KINGDOM SUPREME COURT UNANIMOUSLY QUASHED THEM AS ULTRA VIRES BUT PURSUANT TO THREE DISTINCT LINES OF REASONING: (1) THAT RELEVANT UN SECURITY COUNCIL RESOLUTIONS AGAINST TERRORISM FELL OUTSIDE TERMS OF 1946 UNITED NATIONS ACT; OR (2) THAT SAID ORDERS VIOLATED INDIVIDUAL RIGHTS PROTECTED BY EUROPEAN CONVENTION ON HUMAN RIGHTS; OR (3) THAT TERMS OF FREEZING ORDERS THEMSELVES EXCEEDED POWERS GRANTED BY 1946 ACT
Ultra vires action by executive agencies, on this view, would be not only unlawful, but also unconstitutional.
This being established, it continues, there is no reason to pass verdict on the accusations of action ultra vires and/or misuse of powers.
This may result in a remedy available for an individual adversely affected by the ultra vires act.
If it emerges that it is acting ultra vires, for many retailers it will be a huge relief.
The Hospital's action in forming The Foundation was held to be an ultra vires usurpation of the authority of the Fiscal Court.
During the foot-and-mouth epidemic of 2001, the Government engaged in ultra vires (beyond its power) action on a huge scale, for it had no power to slaughter the majority of the seven million animals it nevertheless did slaughter in the course of the contiguous cull," says their report.