Section 262(2)

A member of the company may apply to the court for permission (in Northern Ireland, leave) to continue the claim as a derivative claim on the ground that— the manner in which the company commenced or continued the claim amounts to an abuse of the process of the court, the company has failed to prosecute the claim diligently, and it is appropriate for the member to continue the claim as a derivative claim.

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Source: legislation.gov.uk · retrieved 2026-09-04