Public examination powers allow questioning of promoters and officers after an official liquidator fraud report, with participation rights. When winding up follows and the Official Liquidator reports a suspected fraud by promoters, directors or officers, the Tribunal may order that person to attend and be publicly examined on the promotion, formation or conduct of the company. The Official Liquidator shall take part and may employ legal assistance if authorized; creditors or contributories may also participate through specified professional representatives. The person is examined on oath, must receive a copy of the Official Liquidator's report at his cost, and may engage permitted professional assistance to ask explanatory questions. Examination notes are recorded, signed, usable in evidence and open to inspection; the Tribunal may adjourn, delegate conduct powers to an authorised person, and address applications for exculpation with the Official Liquidator present.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Public examination powers allow questioning of promoters and officers after an official liquidator fraud report, with participation rights.
When winding up follows and the Official Liquidator reports a suspected fraud by promoters, directors or officers, the Tribunal may order that person to attend and be publicly examined on the promotion, formation or conduct of the company. The Official Liquidator shall take part and may employ legal assistance if authorized; creditors or contributories may also participate through specified professional representatives. The person is examined on oath, must receive a copy of the Official Liquidator's report at his cost, and may engage permitted professional assistance to ask explanatory questions. Examination notes are recorded, signed, usable in evidence and open to inspection; the Tribunal may adjourn, delegate conduct powers to an authorised person, and address applications for exculpation with the Official Liquidator present.
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