Section 349. Effect of ratification

If members of a company, ratify or approve the conduct of the subject matter of the action—

(a) the ratification or approval does not prevent any person from bringing, intervening in or defending proceedings with the leave of the Court;

(b) the application for leave or action brought or intervened in shall not be stayed or dismissed by reason only of the ratification or approval; and

(c) the Court may take into account the ratification or approval in determining what order to make.