644
THE HONGKONG GOVERNMENT GAZETTE, DECEMBER 15, 1911.
Investign-
tion of
affairs of
(2) A copy of the statement shall be put up in a con- spicuous place in the registered office of the company, and in every branch office or place where the business of the company is carried on.
(3) Every member and every creditor of the company shall be entitled to a copy of the statement, on payment of a sta not exceeding twenty-five cents.
(4) It default is made in compliance with this section, the company shall be liable to a fine not exceeding fifty dollars for every day during which the default continues ; and every director and manager of the company who know- ingly and wilfully authorises or permits the default shall be liable to the like penalty.
(5) For the purposes of this Ordinance a company that carries on the business of insurance in common with any
other business or businesses shall be deemed to be an insurance company,
(6) This section shall not apply to any Life Insurance Company to which the provisions of the Life Insurance Companies *rdintuces 1907 and 1909, as to the annual statene it to be made by such a company, apply with or without modifications, if the company complies with those provisions.
Inspection and Audit.
110.--(1) The eart may appoint one or more com- petent inspect is to investigate the affairs of any com- company by pany and to report thereon in such manner as the court inspectors.
8 Ewd. 7 c. 69 a. 109.
directs--
(7) In the ease of a banking company having a share capital, on the application of icemhers holding not less than one third of the shares issned:
gy In the eve of any other company having a share capital, on the application of members holding not less than one tenth of the shares issued:
(7) In the case of a company not having a share capital, on the application of not less than one fifth in number of the persons on the company's register of members.
(2) The application shall be supported by such evidence as the court may require for the purpose of showing that the applicants have good reason for, and are not actuated by malicious motives in requiring, the investigation; and the court may, before appointing an inspector, require the applicants to give security for payment of the costs of the inquiry.
(3) It shall be the duty of all officers and agents of the company to produce to the inspectors all hooks and docu- ments in their custody or power.
(4) An inspector may examine on oath the officers and agents of the company in relation to its business, and may administer an oath accordingly.
(5) If any officer or agent refuses to produce any book or document which under this section it is his duty to produce, or to answer any question relating to the affairs of the company, he shall be liable to a fine not exceeding fifty dollars in respect of each offence.
(6) On the conclusion of the investigation the inspectors shall report their opinion to the court, and a copy of the report shall be forwarded by the registrar of the court to the registered office of the company, and a further copy shall, at the request of the applicants for the investigation, be delivered to them.
The report shall be written or printed, as the court may direct.
(7) All expenses of and incidental to the investigation shall be defrayed by the applicants, unless the court direct the same to be paid by the company, which the court is hereby authorised to do.
$
Page 45Page 46