438 Power to bring civil proceedings on company’s behalf. U.K.
(1)[F1If from any report made or information obtained under this Part it appears to the Secretary of State] that any civil proceedings ought in the public interest to be brought by any body corporate, he may himself bring such proceedings in the name and on behalf of the body corporate.
(2)The Secretary of State shall indemnify the body corporate against any costs or expenses incurred by it in or in connection with proceedings brought under this section.
Textual Amendments
F1Words substituted by Companies Act 1989 (c. 40, SIF 27), ss. 58, 213(2)
Modifications etc. (not altering text)
C1S. 438 extended (with modifications) by S.I. 1989/638, regs. 18, 21, Sch. 4 para. 8
C2S. 438 applied (with modifications) (6.4.2001) by S.I. 2001/1090, reg. 4, Sch. 2 Pt. I
C3S. 438(1): transfer of functions (5.1.1998) by virtue of S.I. 1997/2781, art. 4(2) (with art. 7)