2070
[s. 110 could ]
No. 58 of 1911.
COMPANIES,
(ii) in the case of any other company having a share capital, on the application of members holding not less than one-tenth of the shares issued:
(iii) 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:
(iv) in the case of any company, on the application of the Registrar.
(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 books and documents 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) Every officer or agent who 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, shall be liable to a fine not exceeding fifty dollars.
(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 directs the same to be paid by the company, which the court is hereby authorised to do.
!Page 71
2070
[s. 110 could ]
No. 58 of 1911.
COMPANIES,
(ii) in the case of any other company having a share capital, on the application of members holding not less than one-tenth of the shares issued:
(iii) 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:
(iv) in the case of any company, on the application of the Registrar.
(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 books and documents 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) Every officer or agent who 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, shall be liable to a fine not exceeding fifty dollars.
(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 directs the same to be paid by the company, which the court is hereby authorised to do.
!Page 71
No comments yet.
Private notes are available after approval.