COMPANIES ACT - 1963 (ACT 179)

    Section - 219 - Enquiriees by the Registrar

    (1) In order to ensure that the provisions of sections 123 to 133 of this Code (relating to the maintenance and auditing of accounts) are being duly complied with the Registrar may by written order call on any company to produce for his inspection all or any of the books of the company.

    (2) Where it appears to the Registrar that there are circumstances suggesting in relation to any company,

    (a) that any provisions of this Code are not being complied with, or

    (b) that any document which the company is required to send to him under the provisions of this Code does not disclose a full and fair statement of the matters to which it purports to relate, or

    (c) that the business of the company is being conducted with intent to defraud its creditors or the creditors of any other person or otherwise for a fraudulent or unlawful purpose or that the business of the company is being conducted or the powers of the directors are being exercised in a manner oppressive to some part of the members or debentureholders or in disregard of their proper interests as members, shareholders, officers or debentureholders, or

    (d) that persons concerned with its formation or the management of its affairs have in connection therewith been guilty of a breach of duty towards it or its members, or

    (e) that the members of the company have not been given all the information with respect to its affairs that they might reasonably expect,

    the Registrar may by written order call on the company to produce for his inspection all or any of the books of the company or to furnish in writing such information or explanation as he may specify in his order.

    (3) Where the Registrar makes an order under subsection (1) or (2) of this section the company shall comply with the same within such time as may be specified in the order and all persons who are or have been officers of the company shall, so far as lies within their power, produce such books or furnish such information or explanation.

    (4) If the company shall make default in complying with subsection (3) of this section the company and any officer of the company who is in default shall be liable to a fine not exceeding one hundred pounds and if any officer or former officer of the company shall make default in complying with the said subsection (3) he shall likewise be liable to a fine not exceeding one hundred pounds.

    (5) Unless the books, information, or explanations produced or given to the Registrar in accordance with the provisions of this section satisfy the Registrar that further action is not needed, he shall either proceed in accordance with section 225 of this Code or report the circumstances in writing to the Court.

    (6) Nothing in this section shall require any company licensed under section 24 of the Companies Ordinance (Cap. 193) or any statutory re-enactment or modifications thereof, to carry on banking business to produce its books containing details of the accounts with it of its banking customers.