COMPANIES ACT, 1928 
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Ie va 
7 at 
Inspection. 
135.—(1) The Board of Trade may appoint one or more competent 
inspectors to investigate the affairs of a company and to report 
thereon in such manner as the Board direct— 
In the case of a banking company having a share capital, 
on the application of members holding not less than one- 
third of the shares issued: 
In the case of any other company having a share capital, 
on the application of members holding not less than one- 
tenth of the shares issued: 
In the case of a company not having a share capital, on 
the application of not less than one-fifth in number of the 
persons on the company’s register of members. 
(2) The application shall be supported by such evidence as the 
Board of Trade may require for the purpose of showing that the 
applicants have good reason for, and are not actuated by malicious 
motives in, requiring the investigation, and the Board may, before 
appointing an inspector, require the applicants to give security, 
to an amount not exceeding one hundred pounds, for payment of 
the costs of the inquiry. 
(3) Itshall be the duty of all officers and agents of the company 
to produce to the inspectors all books and documents in their custody 
Or power. 
4) An inspector may examine on oath the officers and agents 
of the company in relation to its business. and may administer an 
oath accordingly. 
(5) If any officer or agent of the company refuses to produce 
to the inspectors any book or document which it is his duty under 
this section so to produce, or refuses to answer any question which 
is put to him by the inspectors with respect to the affairs of the 
company, the inspectors may certify the refusal under their hand 
to the court, and the court may thereupon enquire into the case, 
and after hearing any witnesses who may be produced against or 
on behalf of the alleged offender and after hearing any statement 
which may be offered in defence, punish the offender in like manner 
as if he had been guilty of contempt of the court. 
(6) On the conclusion of the investigation the inspectors shall 
report their opinion to the Board of Trade, and a copy of the report 
shall be forwarded by the Board to the registered office of the 
company, and a further copy shall, at the request of the applicants 
for the investigation, be delivered to them. 
The report shall be written or printed, as the Board direct. 
136.—(1) If from any report made under the last foregoing section 
t appears to the Board of Trade that any person has been guilty 
of any offence in relation to the company for which he is criminally 
liable the Board shall proceed as follows — 
[nvestigation of 
affairs of com- 
pany by Board 
of Trade 
nspectors. 
Proceedings on 
report by 
inspectors.