Insolvency Act · s 18

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18.
Prosecution of delinquent officers of company
(1) This section applies where a moratorium under section 9 has been obtained for a company or the approval of a voluntary arrangement in relation to a company has taken effect under section 14(2) or paragraph 46 of
Schedule 1.
(2) If it appears to the nominee or supervisor that any past or present officer of the company has been guilty of any offence in connection with the moratorium or, as the case may be, voluntary arrangement for which he is criminally liable, the nominee or supervisor shall forthwith —
(a) report the matter to the Minister; and
(b) provide the Minister with such information and give the
Minister such access to and facilities for inspecting and taking copies of documents (being information or documents in the possession or under the control of the nominee or supervisor and relating to the matter in question) as the Minister requires.
(3) Where a report is made to the Minister under subsection (2), he may, for the purpose of investigating the matter reported to him and such other matters relating to the affairs of the company as appear to him to require investigation, exercise any of the powers which are exercisable by inspectors appointed under the Companies Act (Chapter 39) to investigate the affairs of the company.
(4) For the purposes of such an investigation, any obligation imposed on a person by any provision of the Companies Act (Chapter 39) to produce documents or give information to, or otherwise to assist, inspectors so appointed is to be regarded as an obligation similarly to assist the Minister in his investigation.
(5) An answer given by a person to a question put to him in exercise of the powers conferred by subsection (3) may be used in evidence against him.
(6) In criminal proceedings in which that person is charged with an offence to which this subsection applies —
(a) no evidence relating to the answer may be adduced; and
(b) no question relating to it may be asked,

Insolvency by or on behalf of the prosecution, unless evidence relating to it is adduced, or a question relating to it is asked, in the proceedings by or on behalf of that person.
(7) Where the Public Prosecutor institutes criminal proceedings following any report under subsection (2), the nominee or supervisor, and every officer and agent of the company past and present (other than the defendant or defender), shall give the Public Prosecutor all assistance in connection with the prosecution which he is reasonably able to give.
(8) The Court may, on the application of the Public Prosecutor, direct any person referred to in subsection (7) to comply with that subsection if he has failed to do so.
(9) For the purposes of subsection (7), “agent” includes any banker or solicitor of the company and any person employed by the company as auditor, whether that person is or is not an officer of the company.

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s 18Prosecution of delinquent officers of company

(1)

This section applies where a moratorium under section 9 has been obtained for a company or the approval of a voluntary arrangement in relation to a company has taken effect under section 14(2) or paragraph 46 of

Schedule 1.

(2)

If it appears to the nominee or supervisor that any past or present officer of the company has been guilty of any offence in connection with the moratorium or, as the case may be, voluntary arrangement for which he is criminally liable, the nominee or supervisor shall forthwith —

(a)

report the matter to the Minister; and

(b)

provide the Minister with such information and give the

Minister such access to and facilities for inspecting and taking copies of documents (being information or documents in the possession or under the control of the nominee or supervisor and relating to the matter in question) as the Minister requires.

(3)

Where a report is made to the Minister under subsection (2), he may, for the purpose of investigating the matter reported to him and such other matters relating to the affairs of the company as appear to him to require investigation, exercise any of the powers which are exercisable by inspectors appointed under the Companies Act (Chapter 39) to investigate the affairs of the company.

(4)

For the purposes of such an investigation, any obligation imposed on a person by any provision of the Companies Act (Chapter 39) to produce documents or give information to, or otherwise to assist, inspectors so appointed is to be regarded as an obligation similarly to assist the Minister in his investigation.

(5)

An answer given by a person to a question put to him in exercise of the powers conferred by subsection (3) may be used in evidence against him.

(6)

In criminal proceedings in which that person is charged with an offence to which this subsection applies —

(a)

no evidence relating to the answer may be adduced; and

(b)

no question relating to it may be asked,

Insolvency by or on behalf of the prosecution, unless evidence relating to it is adduced, or a question relating to it is asked, in the proceedings by or on behalf of that person.

(7)

Where the Public Prosecutor institutes criminal proceedings following any report under subsection (2), the nominee or supervisor, and every officer and agent of the company past and present (other than the defendant or defender), shall give the Public Prosecutor all assistance in connection with the prosecution which he is reasonably able to give.

(8)

The Court may, on the application of the Public Prosecutor, direct any person referred to in subsection (7) to comply with that subsection if he has failed to do so.

(9)

For the purposes of subsection (7), “agent” includes any banker or solicitor of the company and any person employed by the company as auditor, whether that person is or is not an officer of the company.