Paragraph 21 Derivative claims and proceedings by members (ss.260 to 269)I1

This paragraph applies where an application is made under section 266 or 267 (derivative proceedings in Scotland).

If the cause of action arises, wholly or to any extent, from an act or omission that occurred before 1st October 2007, the court shall exercise its powers under those sections so as to secure that the proceedings in respect of that act or omission are allowed to proceed as derivative proceedings only to the extent that they could have been pursued by the applicant under the law in force immediately before that date.