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FEDERAL COURT PUTRAJAYA
LEE TAK SUAN & ANOR – Appellant
Versus
TUNKU DATO SERI SHAHABUDIN & ORS – Respondent
[1] The Selangor Turf Club ("the Club") is a registered society registered under s 7 of the Societies Act 1966 ("the Act"), but is not a body corporate. It has a set of rules, called Constitution and Rules ("the Rules"), which operates as a contract between the Club and its members and between the members inter se. The Club is managed by a committee of members. Rule 24(a) of the Rules provides as follows:
All the funds and all the property of the Club shall be vested in the Committee for the time being as Trustees for the Ordinary Members of the Club and the Committee shall have control of such funds and property and they shall also have the entire management of the Club and Club property...
Although the expenditure of the funds of the Club is in the hands of the committee, they are subject to the control of R 24(b) where a proposed expenditure exceeds RM500,000. They have first to comply with certain requirements that are contained in that rule.
[2] The plaintiffs (the appellants here) are ordinary members of the Club. Contending, inter alia, that the committee had spent RM30 million of the Club's funds to purchase worthless shares in a troubled compan
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