From mdl.com.au: Section 232 of the Corporations Act 2001 (Cth) allows shareholders in Australian corporations to seek remedies for oppressive, unfairly prejudicial, or discriminatory conduct by the company.

Key components include oppression, unfair prejudice, and discrimination, with available remedies ranging from company winding up to share purchases.

Applicants must demonstrate standing, harmful conduct, and reasonable expectations to succeed in their claims under this section.