ACT 125
COMPANIES ACT 1965 (REVISED - 1973)
PART IX - INVESTIGATIONS

 
Section 197. Investigation of affairs of company by inspectors at direction of Minister.
 
Section 197. Investigation of affairs of company by inspectors at direction of Minister. (COMPANIES ACT 1965 (REVISED - 1973) - ACT 125) (1) The Minister may appoint one or more inspectors to investigate the affairs of a company or such aspects of the affairs of a company as are specified in the instrument of appointment and to report thereon in such manner as the Minister directs—

    (a) in the case of a company having a share capital, on the application of—

      (i) not less than two hundred members or of members holding not less than one-tenth of the shares issued; or

      (ii) holders of debentures holding not less than onefifth in nominal value of debentures issued; or

    (b) 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.

(2) An application under this section shall be supported by such evidence as the Minister requires as to the reasons for the application and the motives of the applicants in requiring the investigation, and the Minister may before appointing an inspector require the applicants to give security to such amount as he thinks fit for payment of the costs of the investigation.