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Most of our investigations
are carried out under section 447 of the Companies Act 1985.
This enables the Secretary of
State, if he/she considers that there is good reason, to require a
company to produce documents and information to an appointed
investigator.
Investigators can also be
authorised to enter and remain on premises which they believe are
used wholly or partly for the purpose of the company’s business.
(There are certain rights and obligations which will be explained by
the investigators if this power is exercised).
If a company’s management
refuses to co-operate with investigators, or there is a risk of
documents being destroyed, we can ask a magistrate for a search
warrant. The police and investigators can then search premises on
which there may be company documents and seize them.
Investigators can also ask
any person involved with a company, now or in the past, or any third
party, to provide documents, explanations of the documents, or any
other information about the company. These questions can be
wide-ranging. Those being asked the questions are obliged by law to
provide an answer.
A lack of co-operation can be
treated as a Contempt of Court and will also be taken into account
when we consider what further action may be required against the
company and its officers.
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