Explain who is responsible for the expenses incurred while carrying out investigations into the company’s affairs

Explain who is responsible for the expenses incurred while carrying out investigations into the company’s affairs

ANSWER
Under the Companies Act, the expenses of and incidental to an investigation by an inspector appointed by the court are defrayed by the registrar in the first instance. However, the following persons are liable to repay the registrar:
• Any person who is convicted on a prosecution instituted by the attorney general on the basis of the report.
• Any person who is ordered to pay damages or restore any property in proceedings instituted on the basis of the report.
• Any body corporate in whose name proceedings are instituted.
• Any body corporate dealt with by the report.
• The applicants for the investigation.