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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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