Company Law Reform Bill [HL]

moved Amendment No. 140:"Page 112, line 3, leave out from ““court”” to end of line 18 and insert—" ““(1A) An application for leave must— (a)   specify the cause of action, and (b)   summarise the facts on which the derivative proceedings are to be based. (1B) If it appears to the court that the application and the evidence produced by the applicant in support of it do not disclose a prima facie case for granting it, the court— (a)   must refuse the application, and (b)   may make any consequential order it considers appropriate. (1C) If the application is not refused under subsection (1B)— (a)   the applicant must serve the application on the company, (b)   the court— (i) may make an order requiring evidence to be produced by the company, and (ii) may adjourn the proceedings on the application to enable the evidence to be obtained, and (c)   the company is entitled to take part in the further proceedings on the application. (1D) On hearing the application, the court may— (a)   grant the application on such terms as it thinks fit, (b)   refuse the application, or (c)   adjourn the proceedings on the application and make such order as to further procedure as it thinks fit.”” On Question, amendment agreed to. Clause 246 [Application to continue proceedings as derivative proceedings]: