TNAG-1645-FCO40-2292-Company-law-reform-in-Hong-Kong-Companies-(Amendment)-(No.-2-1987 — Page 87

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5. Section 146 of the Companies Ordinance (Inspector's report) and

Section 147 of the Companies Ordinance (Proceedings on

inspector's report)

5.1

The Standing Committee's Report for 1985 contained recommendations

for substantial amendments to Section 145 of the Companies Ordinance

(Production of documents, and evidence, on investigation). Briefly,

they recommended that the powers of an inspector appointed by the

Financial Secretary to investigate the affairs of a company should

be extended to allow him:

(i)

to require anyone whom he considers is, or may be,

in possession of any information concerning the

company's affairs to produce any books or

documents of the company in his possession;

(ii)

to require directors (but not the banks concerned)

5.2

to give information about certain bank accounts; and

(iii) to examine an oath anyone whom the inspector considers

is, or may be, in possession of any information

concerning the company's affairs.

In early 1986, the Standing Committee were again approached on

a matter involving the inspection provisions in the Companies Ordinance.

5.3

Section 146(1) provides that an inspector may, and if so

directed by the Financial Secretary, shall make interim reports to him

and on the conclusion of the investigation shall make a final report

to him. These reports must be written or printed, as the Financial

Secretary directs. Under Section 146(3)(a)(i) the Financial Secretary

must forward a copy of any report made by the inspector, to the

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