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CORPORATIONS ACT 2001

CHAPTER 2F - MEMBERS' RIGHTS AND REMEDIES  

PART 2F.1A - PROCEEDINGS ON BEHALF OF A COMPANY BY MEMBERS AND OTHERS  

SECTION 238  SUBSTITUTION OF ANOTHER PERSON FOR THE PERSON GRANTED LEAVE  

238(1)  [Application to be substituted]  


Any of the following persons may apply to the Court for an order that they be substituted for a person to whom leave has been granted under section 237:


(a) a member, former member, or a person entitled to be registered as a member, of the company or of a related body corporate;


(b) an officer, or former officer, of the company.

238(2)  [Power of Court]  


The Court may make the order if it is satisfied that:


(a) the applicant is acting in good faith; and


(b) it is appropriate to make the order in all the circumstances.

238(3)  [Effect of order]  


An order substituting one person for another has the effect that:


(a) the grant of leave is taken to have been made in favour of the substituted person; and


(b) if the other person has already brought the proceedings or intervened - the substituted person is taken to have brought those proceedings or to have made that intervention.

 



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