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Law library · Sierra Leone · The Companies Act, 2009

Section 258, The Companies Act, 2009

In forceThe Companies Act, 2009, Sierra Leone

(1) Subject to subsection (2), an applicant may apply tothe court for leave to bring an action in the name or on behalf of a company, or to intervene in an action to which the company is a party for the purpose of prosecuting, defending or discontinuing the action on behalf of the company. (2) No action may be brought and no intervention may be made under subsection (1), unless the court is satisfied that– (a) the wrongdoers are the directors who are in control, and will not take necessary action; (b) the applicant has given reasonable notice to the directors of the company of his intention to apply to the court under subsection (1) if the directors of the company do not with due diligence bring, prosecute, defend or discontinue the action; (c) the applicant is acting in good faith; and (d) it appears to be in the best interest of the company that the action be brought, prosecuted, defended or discontinued.

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