(1) A suit may be filed or any other action may be taken under section 34 or section 35 or section 36 by any person, group of persons or any association of persons affected by any misleading statement or the inclusion or omission of any matter in the prospectus of a company.

(2) Where any suit or other proceedings brought under this section, if the court is of the opinion that the suit or proceeding is frivolous or vexatious, it may dismiss the action and may make an order as to the costs of the defendant or defendants to be paid by the plaintiff.