Companies Act 2014

F341[Director’s power to examine books and records

558ZN

558ZN. (1) In this section—

"appropriate person" in relation to the eligible company referred to in subsection (2), means any of the following—

(a) the eligible company,

(b) irrespective of the time at which he or she holds or held such status—

(i) a process adviser of the eligible company,

(ii) an officer of the eligible company, or

(iii) a receiver appointed to any property of the eligible company;

"books and records" means the books and records of the eligible company and, in addition, in the case of a request made of a process adviser, the books and records of the process adviser.

(2) At any time during the rescue period relating to an eligible company or after its conclusion, the Director may, where he or she considers it necessary or appropriate, request (specifying the reason why the request is being made) an appropriate person to produce to the Director the books and records for examination, and the appropriate person shall comply with the request.

(3) In the case of a request of a process adviser under subsection (2), the request may relate to a particular eligible company in respect of which the process adviser is acting, or has acted, as process adviser under this Part or to all eligible companies in respect of which the process adviser is so acting or has so acted.

(4) An appropriate person shall—

(a) answer any questions of the Director concerning the content of the books and records requested to be produced under subsection (2),

(b) if he or she is a process adviser, answer any questions of the Director concerning a particular eligible company in respect of which the process adviser is acting, or has acted, as process adviser under this Part or, as the case may be, all eligible companies in respect of which the process adviser is so acting or has so acted,

(c) give to the Director such assistance in the matter as the appropriate person is reasonably able to give.

(5) An appropriate person shall give to the Director such access and facilities as are necessary for inspecting and taking copies of books and records requested to be produced by him or her under subsection (2).

(6) A request under subsection (2) may not be made in respect of books and records relating to a rescue period that has ended more than 6 years prior to the date of the request.

(7) An appropriate person who—

(a) fails to comply with a request under subsection (2),

(b) fails to answer any question under subsection (4)(a) or (b),

(c) fails to give the Director the assistance referred to in subsection (4)(c), or

(d) without lawful excuse, fails to give the Director the access or facilities referred to in subsection (5),

shall be guilty of a category 2 offence.

(8) Nothing in this section shall be taken as excluding or restricting any statutory rights of the Government, a Minister of the Government or a person acting under the authority of the Government or a Minister of the Government, or the powers of any person under Part 13.]

Annotations:

Amendments:

F341

Inserted (7.12.2021) by Companies (Rescue Process for Small and Micro Companies) Act 2021 (30/2021), s. 3, S.I. No. 673 of 2021.