Section 174: Personal actions by shareholders against directors

174. Personal actions by shareholders against directors (1) A shareholder or former shareholder may bring an action against a director and in the case of section 91, a Secretary, for breach of a duty owed to him as a shareholder. [Issue 1] C35 – 112 Revised Laws of Mauritius (2) An action may not be brought under subsection (1) to recover any loss in the form of a reduction in the value of shares in the company or a failure of the shares to increase in value by reason only of a loss suffered, or a gain forgone, by the company. (3) For the purposes of subsection (1), the duties set out in sections 94, 148 and 156 are duties owed to shareholders while the duties of directors set out in sections 143 (1) (c), (e), (f), (h), (j), (k) and (m), 153, 160, 162, 193 and 194 are duties owed to the company and not to shareholders.