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Commentary

119 Matters for the court to consider in deciding whether to give permission

COMPANIES vol 10(1) Directors and Other Officers, Shareholders, Shares and Share Capital
| Commentary

119 Matters for the court to consider in deciding whether to give permission

| Commentary

119 Matters for the court to consider in deciding whether to give permission

The court must refuse permission for an applicant to continue a derivative claim (or continue an existing claim as a derivative one) if it is satisfied that1:

  1. 119.1

        a person who was acting in accordance with the statutory duty to promote the success of the company would not seek to continue the claim; or

  2. 119.2

        the act or omission which gives rise to the cause of action has been, or was, authorised by the company in advance, or has been ratified by the company since it occurred2.

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