Section 179 — Companies Act 1993: Investigation of records

179 Investigation of records (1) The Court may, on the application of a shareholder or creditor of a company, make an order authorising a person named in the order at a time specified in the order, to inspect and to make copies of, or take extracts from, the records or other documents of the company, or such of the records or documents of the company as are specified in the order, and may make such ancillary order as it thinks fit, including an order that the accounts of the company be audited by that person. (2) The Court may make an order under subsection (1) of this section only if it is satisfied that— (a) In making the application, the shareholder or creditor is acting in good faith and that the inspection is proposed to be made for a proper purpose; and (b) The person to be appointed is a proper person for the task. (3) A person appointed by the Court under subsection (1) of this section must diligently carry out the inspection and, having done so, must make a full report to the Court. (4) On receiving the report of an inspector, the Court may make such order in relation to the disclosure and use that may be made of records and information obtained as it thinks fit. (5) An order made under subsection (4) of this section may be varied from time to time. (6) The reasonable costs of the inspection must be met by the company unless the Court orders otherwise. (7) A person may only disclose or make use of information or records obtained under this section in accordance with an order made under subsection (4) or subsection (5) of this section. (8) A person who discloses or makes use of information or records obtained under this section other than in accordance with an order made under subsection (4) or subsection (5) of this section commits an offence, and is liable on conviction to the penalty set out in section 373(2) of this Act.