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(1) If it appears to the Court in the course of an official winding up, that any past or present officer or member of the company has been guilty of any offence in relation to the company for which he is criminally liable, the Court may, either on the application of any person interested in the official winding up or of its own motion, direct the liquidator to refer the matter to the Attorney-General.

(2) If it appears to the liquidator in the course of an official winding up that any past or present officer or member of the company has been guilty of any offence in relation to the company for which he is criminally liable he shall forthwith report the matter to the Attorney-General and shall furnish to the Attorney-General, such information and give him such access to and facilities for inspecting and taking copies of any documents, being information or documents in the possession or under the control of the liquidator and relating to the matter in question as he may require.

(3) Where any report is made under the immediately preceding subsection to the Attorney-General he may, if he thinks fit, refer the matter to the Minister for an enquiry and the Minister shall thereupon investigate the matter and may if he thinks it expedient apply to the Court for an order conferring on the Minister or any person designated by the Minister for the purpose with respect to the company concerned, all such powers of investigating the affairs of the company as are provided by the Companies Code, 1963 (Act 179).

 (4) If it appears to the Court in the course of an official winding up that any past or present officer or any member of the company has been guilty as aforesaid and that no report with respect thereto has been made by the liquidator to the Attorney-General under subsection (2) of this section, the Court may, on the application of any person interested in the official winding up, or of its own motion, direct the liquidator to make such a report and on a report being made accordingly, the provisions of this section shall have effect as though the report has been made in pursuance of the provisions of subsection (2) of this section.

(5) Where any matter is reported or referred to the Attorney-General under this section, and he considers that the case is one for which prosecution ought to be instituted, he shall institute proceedings accordingly; and it shall be the duty of the liquidator and of every officer and agent of the company past and present, other than the defendant in the proceedings, to give him all assistance in connection with the prosecution which he is reasonably able to give.

(6) For the purposes of the immediately preceding subsection the expression "agent" in relation to a company shall be deemed to include any banker or solicitor or counsel of the company and any person employed by the company as auditor, whether that person is or is not an officer of the company.

(7) If any person fails or neglects to give assistance in the manner required by subsection (5) of this section, the Court may, on the application of the Attorney-General, direct that person to comply with the requirements of the said subsection, and where any such application is made with respect to a liquidator the Court may, unless it appears that the failure or neglect to comply was due to the liquidator not having in his hands sufficient assets of the company to enable him so to do, direct that the costs of the application shall be borne by the liquidator personally.