(5)If an application filed under sub-section (1) is admitted, then the Tribunal shall have regard to the following, namely:—(a)public notice shall be served on admission of the application to all the members or depositors of the class in such manner as may be prescribed;(b)all similar applications prevalent in any jurisdiction should be consolidated into a single application and the class members or depositors should be allowed to choose the lead applicant and in the event the members or depositors of the class are unable to come to a consensus, the Tribunal shall have the power to appoint a lead applicant, who shall be in charge of the proceedings from the applicant’s side;(c)two class action applications for the same cause of action shall not be allowed;(d)the cost or expenses connected with the application for class action shall be defrayed by the company or any other person responsible for any oppressive act.
