- Y Diweddaraf sydd Ar Gael (Diwygiedig)
- Pwynt Penodol mewn Amser (06/06/2008)
- Gwreiddiol (Fel y'i Deddfwyd)
Version Superseded: 01/03/2016
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Companies Act 2006, Section 269 is up to date with all changes known to be in force on or before 07 November 2024. 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.
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(1)This section applies where a member of a company (“the claimant”)—
(a)has raised derivative proceedings,
(b)has continued as derivative proceedings raised by the company, or
(c)has continued derivative proceedings under this section.
(2)Another member of the company (“the applicant”) may apply to the court to be substituted for the claimant in the action on the ground that—
(a)the manner in which the proceedings have been commenced or continued by the claimant amounts to an abuse of the process of the court,
(b)the claimant has failed to prosecute the proceedings diligently, and
(c)it is appropriate for the applicant to be substituted for the claimant in the proceedings.
(3)If it appears to the court that the application and the evidence produced by the applicant in support of it do not disclose a prima facie case for granting it, the court—
(a)must refuse the application, and
(b)may make any consequential order it considers appropriate.
(4)If the application is not refused under subsection (3)—
(a)the applicant must serve the application on the company,
(b)the court—
(i)may make an order requiring evidence to be produced by the company, and
(ii)may adjourn the proceedings on the application to enable the evidence to be obtained, and
(c)the company is entitled to take part in the further proceedings on the application.
(5)On hearing the application, the court may—
(a)grant the application on such terms as it thinks fit,
(b)refuse the application, or
(c)adjourn the proceedings on the application and make such order as to further procedure 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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