Section 347
Derivative proceedings
ActIn forceProvision 347 of 621
Section 347
(1)
A complainant may, with the leave of the Court initiate, intervene in or defend a proceeding on behalf of the company.
(2)
Proceedings brought under this section shall be brought in the company’s name.
(3)
The right of any person to bring, intervene in, defend or discontinue any proceedings on behalf of a company at common law is abrogated.