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Companies Act 1989
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59 Expenses of investigating a company’s affairs.U.K.
(1)Section 439 of the Companies Act 1985 (expenses of investigating a company’s affairs) is amended as follows.
(2)For subsection (1) substitute—
“(1)The expenses of an investigation under any of the powers conferred by this Part shall be defrayed in the first instance by the Secretary of State, but he may recover those expenses from the persons liable in accordance with this section.
There shall be treated as expenses of the investigation, in particular, such reasonable sums as the Secretary of State may determine in respect of general staff costs and overheads.”.
(3)In subsection (4) for “the inspectors’ report” substitute “ an inspectors’ report ”.
(4)For subsection (5) substitute—
“(5)Where inspectors were appointed—
(a)under section 431, or
(b)on an application under section 442(3),
the applicant or applicants for the investigation is or are liable to such extent (if any) as the Secretary of State may direct.”.
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