COMPANIES ACT (NORTHERN IRELAND) 1960 - SECT 164 Expenses of investigation of company's affairs.

	[Home] [Databases] [World Law] [Search] [Feedback]
	Northern Irish Legislation
You are here: BAILII >> Databases >> Northern Irish Legislation >> COMPANIES ACT (NORTHERN IRELAND) 1960

[Index] [Table] [Search] [Notes] [Noteup] [Previous] [Next] [Download] [Help]

COMPANIES ACT (NORTHERN IRELAND) 1960 - SECT 164

Expenses of investigation of company's affairs.

164.(1) The expenses of and incidental to an investigation by an inspector
appointed by the Department under the foregoing provisions of this Act shall
be defrayed in the first instance by the Department but the following persons
shall, to the extent mentioned, be liable to repay the Department

(a)any person who is convicted on a prosecution instituted as a result of the
investigation or who is ordered to pay the whole or any part of the costs of
proceedings brought by virtue of section 163(1), may in the same proceedings
be ordered to pay the said expenses to such extent as may be specified in the
order; and

(b)any body corporate in whose name proceedings are brought as aforesaid shall
be liable to the amount or value of any sums or property recovered by it as a
result of those proceedings; and

(c)any body corporate dealt with by the report, where the inspector was
appointed otherwise than of the Department's own motion, shall be liable,
except so far as the Department otherwise directs; and

(d)the applicants for the investigation, where the inspector was appointed
under section 158, shall be liable to such extent, if any, as the Department
may direct;

(2) The report of an inspector appointed otherwise than of the Department's
own motion may, if he thinks fit, and shall, if the Department so directs,
include a recommendation as to the directions, if any, which he thinks
appropriate, in the light of his investigation, to be given under sub-section
(1)(c) and (d).

(3) For the purposes of this section, any costs or expenses incurred by the
Department in or in connection with proceedings brought by virtue of
section 163(1) (including expenses incurred by virtue of sub-section (2)
thereof) shall be treated as expenses of the investigation giving rise to the
proceedings.

(4) Any liability to repay the Department imposed by sub-section (1)(a) and
(b) shall, subject to satisfaction of the Department's right to repayment, be
a liability also to indemnify all persons against liability under sub-section
(1)(c) and (d) and any such liability imposed by sub-section (1)(a) shall,
subject as aforesaid, be a liability also to indemnify all persons against
liability under sub-section (1)(b); and any person liable under any paragraph
of sub-section (1) shall be entitled to contribution from any other person
liable under the same paragraph according to the amount of their respective
liabilities thereunder.]

[Index] [Table] [Search] [Notes] [Noteup] [Previous] [Next] [Download] [Help]

BAILII: Copyright Policy | Disclaimers | Privacy Policy | Feedback
URL: http://www.bailii.org/nie/legis/num_act/cai1960267/s164.html

Northern Irish Legislation

COMPANIES ACT (NORTHERN IRELAND) 1960 - SECT 164