233. As to reports of inspectors

An inspector appointed by the Minister may, and if so directed by the Minister must, make interim reports to the Minister and on the conclusion of the investigation the inspector must report the inspector’s opinion on or in relation to the affairs that the inspector has been appointed to investigate together with the facts upon which the inspector’s opinion is based to the Minister, and a copy of the report must, subject to subsection (1B), be forwarded by the Minister to the registered office of the company, and a further copy must, subject to that subsection, at the request of the applicants be delivered to them.

Subject to subsections (1B) and (1C), the Minister must give a copy of a report made under this Part to each person to whom in the opinion of the Minister the report ought to be given by reason that it relates to the affairs of that person to a material extent.

The Minister is not bound to furnish a company, an applicant or any other person with a copy of the report or any part thereof if the Minister is of the opinion that there is good reason for not divulging the contents of the report or any part thereof.

Subject to subsection (1D), the Minister must not give a copy of a report made under this Part to a person under subsection (1A) if the Minister believes that legal proceedings that have been or, in the Minister’s opinion, might be instituted, might be unduly prejudiced by giving the report to that person.

A court before which legal proceedings are brought against a person for or in respect of matters dealt with in a report under this Part may order that a copy of the report or part thereof must be given to that person.

The Minister may, if he or she is of the opinion that it is necessary in the public interest to do so, cause the report to be printed and published but must refrain from so doing if the Attorney‑General has certified in writing that publication of the report would be prejudicial to the administration of justice.

If from any report of an inspector appointed by the Minister it appears to the Minister that the case is one in which a prosecution ought to be instituted, the Minister must cause a prosecution to be instituted accordingly and all officers and agents of the company (other than the defendant in the proceedings) must on being required by the Minister to do so give all assistance in connection with the prosecution which they are reasonably able to give.

If from any report of an inspector appointed by the Minister it appears to the Minister that proceedings ought in the public interest to be brought by any company dealt with by the report for the recovery of damages in respect of any fraud, misfeasance or other misconduct in connection with the promotion or formation of that company or in the management of its affairs or for the recovery of any property of the company which has been misapplied or wrongfully retained, the Minister may himself or herself bring proceedings for that purpose in the name of the company.