1
S.M.A.
2
-
+ | 2.
Inspectors appointed by the Financial Secretary under sections 142 or 143 of the Companies Ordinance should
be put under an obligation to report suspected fraud
as soon as possible.
Implementation Action
S for S
3
The Secretary for Monetary Affairs in consultation
with the Registrar-General and the Financial
Secretary to consider introducing this obligation.
However it is noted that there is already power for
the Financial Secretary to direct an inspector appointed under section 142 and 143 of the Companies Ordinance to report at an early stage of the inspection matters tending to show that an offence
has been committed. The Financial Secretary has
given such a direction in connection with a recent inspection under section 142 of the Ordinance.
The police should review their present arrangements for international co-operation and consider ways in
which these can be improved.
Implementation Action
S.M.A.
S for S
+
4.
The Commissioner of Police to review the matter to
see if improvements can be made in this area. However it is recognised that one of the main difficulties relates to the legal systems and procedures of some foreign countries rather than lack of co-operation by foreign police forces.
The Government should review and rationalize the provisions of the Companies Ordinance relating to investigation of companies and the examination of company papers, and should consider the possibility of granting to the police powers similar to those of
the Financial Secretary under section 152A of that
Ordinance.
Page 60Page 61