MHHS · Business Corporations Act
Part 19 — Remedies, Offences and Penalties
240 Commencing derivative action
Court for permission to
(a) bring an action in the name and on behalf of a corporation or
any of its subsidiaries, or
(b) intervene in an action to which a corporation or any of it s
subsidiaries is a party, for the purpose of prosecuting,
defending or discontinuing the action on behalf of the
corporation or subsidiary.
(2) No permission may be granted under subsection (1) unless the
Court is satisfied that
(a) the complainant has given r easonable notice to the directors
of the corporation or its subsidiary of the complainant's
intention to apply to the Court under subsection (1) if the
directors of the corporation or its subsidiary do not bring,
diligently prosecute, defend or discontinue the action,
(b) the complainant is acting in good faith, and
(c) it appears to be in the int erests of the corporation or its
subsidiary that the action be brought, prosecuted, defended
or discontinued.
RSA 2000
(3) Notwithstanding subsection (2), when all the directors of the
corporation or its subsidiary have been named as defendants, notice
to the directors under subsection (2)(a) of the complainant's
intention to apply to the Court is not required.
RSA 2000 cB-9 s240;2005 c8 s54;2014 c13 s49