Cap. 386 Art. 405Other company investigations.

(1) Where the court, in the course of proceedings before it under this Act, by order declares that the affairs of a company are to be investigated, the Registrar shall by letter of authority appoint one or more inspectors to investigate the affairs of that company and to report thereon in such manner as he directs.

(2) The court shall make an order as specified in sub-article (1) if it appears to it that there are circumstances suggesting -

(a) that the company’s affairs are being or have been conducted with intent to defraud its creditors or otherwise for a fraudulent or unlawful purpose, or in a manner which is unfairly prejudicial to some part of its members; or

(b) that any actual or proposed act or omission of the company is or would be so prejudicial, or that the company was formed for any fraudulent or unlawful purpose; or

(c) that persons concerned with the company’s formation or the management of its affairs have in connection therewith been guilty of fraud or other misconduct towards it or towards its members; or

(d) that the company’s members have not been given all the information with respect to its affairs which they might reasonably expect.

(3) The provisions of sub-articles (1) and (2) shall apply without prejudice to the powers of the Registrar under article 404.

(4) The power conferred by sub-article (2) shall be exercisable with respect to a company notwithstanding that it is in the course of being wound up voluntarily.