Insolvency Act · 2022 Revised Edition · Chapter X
190. Prosecution of delinquent officers and members of company
Official textFrom Attorney General's Chambers, unchanged
If it appears to the Court, in the course of a winding up by the
Court
“Court”, in relation to a company, means a court having jurisdiction to wind up the company;
Court, that any past or present officer, or any member, of the company has been guilty of any offence in relation to the company for which he is criminally liable, the Court may (on the application of a person interested in the winding up or of its own motion) direct the liquidator to refer the matter to the Minister.
If in the case of a winding up by the Court, it appears to the liquidator, not being the Official Receiver, that any past or present officer or any member of the company, has been guilty of an offence in relation to the company for which he is criminally liable, the liquidator shall report the matter to the Official Receiver.
company
“company” means a company incorporated or registered under the Companies Act;
If it appears to the liquidator in the course of a voluntary winding up that any past or present officer or any member of the company, has been guilty of an offence in relation to the company for which he is criminally liable, he shall —
forthwith report the matter to the Minister; and
furnish to the Minister such information and give to him 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 liquidator and relating to the matter in question) as the Minister requires.
Where a report is made to the Minister under subsection (3) 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.
Insolvency 152
insolvency
“insolvency”, in relation to a company, includes the approval of a voluntary arrangement or the appointment of a judicial manager;
If it appears to the Court in the course of a voluntary winding up that —
any past or present officer of the company, or any member of it, has been guilty as mentioned in subsections (1), (2) and (3); and
no report with respect to the matter has been made by the liquidator under subsection (3), the Court may (on the application of any person interested in the winding up or of its own motion) direct the liquidator to make such a report.
On a report being made accordingly under subsection (5), this section applies as though the report had been made in pursuance of subsection (3).
Terms defined in s 3
company
Defined · s 3“company” means a company incorporated or registered under the Companies Act;
Court
Defined · s 3“Court”, in relation to a company, means a court having jurisdiction to wind up the company;
insolvency
Defined · s 3“insolvency”, in relation to a company, includes the approval of a voluntary arrangement or the appointment of a judicial manager;
Part