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Companies Act 2006

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Changes over time for: Section 261

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Point in time view as at 31/12/2020.

Changes to legislation:

Companies Act 2006, Section 261 is up to date with all changes known to be in force on or before 05 March 2025. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations. Help about Changes to Legislation

261Application for permission to continue derivative claimU.K.

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(1)A member of a company who brings a derivative claim under this Chapter must apply to the court for permission (in Northern Ireland, leave) to continue it.

(2)If it appears to the court that the application and the evidence filed by the applicant in support of it do not disclose a prima facie case for giving permission (or leave), the court—

(a)must dismiss the application, and

(b)may make any consequential order it considers appropriate.

(3)If the application is not dismissed under subsection (2), the court—

(a)may give directions as to the evidence to be provided by the company, and

(b)may adjourn the proceedings to enable the evidence to be obtained.

(4)On hearing the application, the court may—

(a)give permission (or leave) to continue the claim on such terms as it thinks fit,

(b)refuse permission (or leave) and dismiss the claim, or

(c)adjourn the proceedings on the application and give such directions as it thinks fit.

Modifications etc. (not altering text)

C1Ss. 260-269 modified (22.2.2008) by The Northern Rock plc Transfer Order 2008 (S.I. 2008/432), art. 17(1), Sch. para. 2(m)

C2Ss. 260-269 modified (8.00 a.m. on 29.9.2008) by the The Bradford & Bingley plc Transfer of Securities and Property etc. Order 2008 (S.I. 2008/2546), art. 13(1)(3), Sch. 1 para. 2(m)

C3Ss. 260-269 modified (9.30 a.m. on 7.10.2008) by The Heritable Bank plc Transfer of Certain Rights and Liabilities Order 2008 (S.I. 2008/2644), art. 26, Sch. 2 para. 2(m)

C4Ss. 260-269 modified (retrospective to 30.3.2009 at 8.00 a.m.) by The Amendments to Law (Resolution of Dunfermline Building Society) Order 2009 (S.I. 2009/814), arts. 1(2), 7, Sch. para. 2(m)

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