COMPANIES ACT - 1963 (ACT 179)

    Section - 226 - Expenses of Investigtions

    (1) The expenses of, and incidental to, an investigation by the Registrar under section 219 of this Code or by inspectors appointed by the Registrar under section 220 or 221 of this Code shall be defrayed in the first instance by the Registrar out of moneys provided by Parliament, but the following persons shall, to the extent mentioned, be liable to repay the Registrar, that is to say,

    (a) any person who is convicted on a prosecution instituted by virtue of paragraph (a) of section 225 of this Code or who is ordered to restore property or pay damages or compensation in proceedings brought by virtue of paragraph (c) of section 225 of this Code may in the same proceedings be ordered to pay the said expenses to such extent as may be specified in the order;

    (b) any body corporate in whose name proceedings are brought by virtue of paragraph (c) of section 225 of this Code shall be liable to the amount or value of any sums or property recovered by it as a result of those proceedings, and the expenses shall be a first charge on such sums or property;

    (c) any body corporate dealt with by the report of any inspector appointed under section 220 or 221 of this Code and the applicants, other than the Registrar, for the investigation where the inspector was appointed under section 220 of this Code shall be liable to such extent, if any, as the Registrar shall direct.

    (2) The report of any inspector may, if he thinks fit, and shall if the Registrar so directs, include a recommendation as to the directions, if any, which he thinks appropriate to be given under paragraph (c) of the preceding subsection.

    (3) For the purposes of this section any costs or expenses incurred by the Registrar in connection with proceedings brought under paragraph (b) or (c) of section 225 of this Code shall be treated as expenses of the investigation giving rise to the proceedings.

    (4) As between the persons specified in paragraphs (a), (b) and (c) of subsection (1) of this section, liability to repay the Registrar shall be borne, to the extent to which they are respectively liable under such paragraphs, in the first instance by those liable under paragraph (a), then by those liable under paragraph (b), and finally by those liable under paragraph (c).