Companies Act · 2021 Revised Edition · Part · Management and Administration Registered Office and Name
135H. Expenses of investigating affairs of company
Official textFrom Attorney General's Chambers, unchanged
The expenses of an investigation under any of the powers conferred by sections 135B to 135F shall be defrayed in the first instance by the Minister, but he may recover those expenses from the persons liable in accordance with this section. There shall be treated as expenses of the investigation, in particular, such reasonable sums as the Minister may determine in respect of general staff costs and overheads.
A person who is convicted on a prosecution instituted as a result of the investigation, or is ordered to pay the whole or any part of the costs of the proceedings brought under section 135G, may in the same proceedings, be ordered to pay those expenses to such extent as may be specified in the order.
A company in whose name proceedings are brought under section 135G is liable in respect of any costs or expenses incurred in connection with those proceedings to the amount or value of any sums or property recovered by it as a result of those proceeding; any amount for which a company is liable under this subsection is a first charge on the sums or property recovered.
For the purposes of this section, any costs or expenses incurred by the Minister in or in connection with proceedings brought under section 135G are to be treated as expenses of the investigation giving rise to the proceedings.
Power to investigate company ownership 1351.
Where the Minister appoints inspectors under section 135B, the a inspectors may, if directed by the Minister, investigate and report on the membership of any company, and otherwise with respect to the company, for the purposes of determining the true persons who are or have been financially interested in the success or failure (real or apparent) of the company or able to control or materially to influence its policy.
144 CAP. 39
Companies
Provisions applicable on investigation under section 1351 1355.
For the purposes of an investigation under section 1351, sections 135C to 135F apply with the necessary modifications of references to the affairs of the company or to those of any other company or person.
Terms defined in s 2
charge
Defined · s 2"charge" includes a mortgage and any agreement to give or execute a charge or mortgage whether upon demand or otherwise;
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Restrictions on Sale of Shares and Offers of Shares for Sale
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Prohibition of Partnerships with More Than Twenty Members
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