Part 16 — Remedies, Offences and Penalties Division 1 Court Intervention
358 Evidence of member or shareholder approval not decisive
intervened in under this Part are to be stayed or dismissed by
reason only that it is shown that an alleged breach of a right or duty
owed to the cooperative or any of its subsidiaries has been or may
be approved by the members or investment shareholders, but
evidence of approval by the members or investment shareholders
must be taken into account by the Court in making an order under
section 314 or this Part.
(2) No application made and no legal proceedings brought or
intervened in under this Part are to be stayed, discontinued, settled
or dismissed for want of prosecution without the approval of the
Court on terms that the Court considers appropriate.
(3) If the Court determines that the interests of a complainant may
be substantially affected by a stay, discontinuance, settlement or
dismissal, the Court may order any party to the application or legal
proceedings to give notice of the application or legal proceedings
to the complainant.
(4) A complainant is not required to give security for costs in an
application made or legal proceedings brought or intervened in
under this Part.
(5) In an application made or legal proceedings brought or
intervened in under this Part, the Court may at any time order the
cooperative or its subsidiary to pay to the complainant interim
costs, including legal fees and disbursements, but the complainant
may be held accountable for any interim costs so paid on the final
disposition of the application or legal proceedings.