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Contents  

Long Title

Part I PRELIMINARY

Part II ADMINISTRATION OF THIS ACT

Part III CONSTITUTION OF COMPANIES

Division 1 — Incorporation

Division 2 — Powers

Part IV SHARES, DEBENTURES AND CHARGES

Division 1 — Prospectuses

Division 2 — Restrictions on allotment and commencement of business

Division 3 — Shares

Division 3A — Reduction of share capital

Division 4 — Substantial shareholdings

Division 5 — Debentures

Division 5A — Exemptions from Divisions 1 and 5 in relation to Prospectus Requirements

Division 6 — Interests other than shares, debentures, etc.

Division 7 — Title and transfers

Division 7A — The Central Depository System — a book-entry or scripless system for the transfer of securities

Division 8 — Registration of charges

Part V MANAGEMENT AND ADMINISTRATION

Division 1 — Office and name

Division 2 — Directors and officers

Division 3 — Meetings and proceedings

Division 4 — Register of members

Division 5 — Annual return

Part VI FINANCIAL STATEMENTS AND AUDIT

Division 1 — Financial statements

Division 2 — Audit

Part VII ARRANGEMENTS, RECONSTRUCTIONS AND AMALGAMATIONS

Part VIII RECEIVERS AND MANAGERS

Part VIIIA JUDICIAL MANAGEMENT

Part IX INVESTIGATIONS

Part X WINDING UP

Division 1 — Preliminary

Division 2 — Winding up by Court

Subdivision 1 General

Subdivision 2 Liquidators

Subdivision 3 Committees of inspection

Subdivision 4 General powers of Court

Division 3 — Voluntary winding up

Subdivision 1 Introductory

Subdivision 2 Provisions applicable only to members’ voluntary winding up

Subdivision 3 Provisions applicable only to creditors’ voluntary winding up

Subdivision 4 Provisions applicable to every voluntary winding up

Division 4 — Provisions applicable to every mode of winding up

Subdivision 1 General

Subdivision 2 Proof and ranking of claims

Subdivision 3 Effect on other transactions

Subdivision 4 Offences

Subdivision 5 Dissolution

Division 5 — Winding up of unregistered companies

Part XI VARIOUS TYPES OF COMPANIES, ETC.

Division 1 — Investment companies

Division 2 — Foreign companies

Part XII GENERAL

Division 1 — Enforcement of this Act

Division 2 — Offences

Division 3 — Miscellaneous

FIRST SCHEDULE Repealed written laws

SECOND SCHEDULE Fees to be paid to the Registrar

THIRD SCHEDULE

FOURTH SCHEDULE Regulations for management of a company limited by shares

FIFTH SCHEDULE

SIXTH SCHEDULE Statement in lieu of prospectus

SEVENTH SCHEDULE

EIGHTH SCHEDULE Annual return of a company having a share capital

NINTH SCHEDULE

TENTH  SCHEDULE

ELEVENTH  SCHEDULE Powers of judicial manager

TWELFTH  SCHEDULE Contents of directors’ statement

THIRTEENTH  SCHEDULE Criteria for small company and small group

Legislative Source Key

Legislative History

Comparative Table

 
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On 02/09/2015, you requested the version in force on 02/09/2015 incorporating all amendments published on or before 02/09/2015. The closest version currently available is that of 01/07/2015.
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Derivative or representative actions
216A.
—(1)  In this section and section 216B —
“complainant” means —
(a)
any member of a company;
(b)
the Minister, in the case of a declared company under Part IX; or
(c)
any other person who, in the discretion of the Court, is a proper person to make an application under this section.
[22/93; 42/2001]
(2)  Subject to subsection (3), a complainant may apply to the Court for leave to bring an action or arbitration in the name and on behalf of the company or intervene in an action or arbitration to which the company is a party for the purpose of prosecuting, defending or discontinuing the action or arbitration on behalf of the company.
[22/93]
(3)  No action or arbitration may be brought and no intervention in an action or arbitration may be made under subsection (2) unless the Court is satisfied that —
(a)
the complainant has given 14 days’ notice to the directors of the company of his intention to apply to the Court under subsection (2) if the directors of the company do not bring, diligently prosecute or defend or discontinue the action or arbitration;
(b)
the complainant is acting in good faith; and
(c)
it appears to be prima facie in the interests of the company that the action or arbitration be brought, prosecuted, defended or discontinued.
[22/93]
(4)  Where a complainant on an application can establish to the satisfaction of the Court that it is not expedient to give notice as required in subsection (3)(a), the Court may make such interim order as it thinks fit pending the complainant giving notice as required.
[22/93]
(5)  In granting leave under this section, the Court may make such orders or interim orders as it thinks fit in the interests of justice, including (but not limited to) the following:
(a)
an order authorising the complainant or any other person to control the conduct of the action or arbitration;
(b)
an order giving directions for the conduct of the action or arbitration by the person so authorised; and
(c)
an order requiring the company to pay reasonable legal fees and disbursements incurred by the complainant in connection with the action or arbitration.
[22/93]
(6)  Where the action has been commenced or is to be brought in the State Courts, an application for leave under subsection (2) shall be made in a District Court.
[22/93]
[Canada, 1985, ss. 238-240]
[Act 5 of 2014 wef 07/03/2014]
History for Provision '216A Derivative or representative actions'.
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pr216A-.
31/10/2006
Formal Consolidation
31 October 2006
2006 RevEd
 
Compare versionsDiff

19/11/2012
Informal Consolidation
23 February 2009
Amended
Act 2 of 2009

07/03/2014
Informal Consolidation
26 February 2014
Amended
Act 5 of 2014

01/07/2015
Informal Consolidation
23 June 2015
Amended
S 383/2015

01/07/2015
Informal Consolidation
23 June 2015
Amended
S 382/2015

01/07/2015
Informal Consolidation
23 June 2015
Amended
Act 36 of 2014