V-1 - Securities Act

Section 173 Disposition versions

1977-12-31

173. An order pursuant to section 172 may only be made if the judge is satisfied that the applicant has reasonable grounds for believing that the corporation has a cause of action under sections 169 and 170 and that the corporation has refused or failed to commence an action under section 169 within sixty days after receipt of a written request from such applicant so to do or that the corporation has failed to prosecute diligently an action commenced by it under section 169. With leave of a judge of the Court of Appeal, an appeal to the Court of Appeal lies from such order.

1973, c. 67, s. 26.