Commonwealth Consolidated Acts

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Substitution of another person for the person granted leave

             (1)  Any of the following persons may apply to the Court for an order that they be substituted for a person to whom leave has been granted under section 237:

                     (a)  a member, former member, or a person entitled to be registered as a member, of the company or of a related body corporate;

                     (b)  an officer, or former officer, of the company.

             (2)  The Court may make the order if it is satisfied that:

                     (a)  the applicant is acting in good faith; and

                     (b)  it is appropriate to make the order in all the circumstances.

             (3)  An order substituting one person for another has the effect that:

                     (a)  the grant of leave is taken to have been made in favour of the substituted person; and

                     (b)  if the other person has already brought the proceedings or intervened--the substituted person is taken to have brought those proceedings or to have made that intervention.

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