Companies Act 2014

750.

Power of inspector to expand investigation into affairs of related bodies corporate

750. (1) Subject to subsection (4), an inspector appointed under section 747(1) or 748(1) may investigate the affairs of any other body corporate that is related to the company under investigation if the inspector—

(a) considers that it is necessary for the purposes of the investigation, and

(b) has first obtained the approval of the court.

(2) An inspector who investigates the affairs of a related body corporate shall report on those affairs to the extent that the inspector considers that the results of investigation of the related body corporate are relevant to the investigation of the company.

(3) Without prejudice to the application of section 2(10) , a body corporate that is related to a company includes, for the purposes of this section and sections 753 and 754, a body corporate with which the company has a commercial relationship, and a commercial relationship exists where goods or services are sold or given by one party to another.

(4) The Circuit Court shall only have jurisdiction to grant the approval referred to in subsection (1), if in respect of the latest financial year of the body corporate there referred to that has ended prior to the date of the making of the application for the approval, that body fell to be treated (or, if it were a company, would have fallen to be treated) F269 [ as a small company by virtue of section 280A or 280B or a medium company by virtue of section 280F or 280G ] , and subsection (7) of section 747 applies for the purposes of this subsection as it applies for purposes of subsection (6)(b) of that section.

Annotations

Amendments:

F269

Substituted (9.06.2017) by Companies (Accounting) Act 2017 (9/2017), s. 88(c)(iii), S.I. No. 246 of 2017, art. 3, subject to transitional provision in art. 4.