Section 173: Compromise, settlement or withdrawal of derivative action
consolidated text (as at 2018, amended since). juris shows the text as it was consolidated; it does not confirm that this is the law in force today.
173. Compromise, settlement or withdrawal of derivative action
No proceedings brought by a shareholder or a director or in which a
shareholder or a director intervenes, as the case may be, with leave of the
Court under section 170, may be settled or compromised or discontinued
without the approval of the Court.
Sub-Part C – Personal Actions by Shareholders
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Questions this section answers
- Can a derivative action be settled without the Court's approval?