Company law revision question and answer

The affairs of Ibiza Ltd were recently investigated an inspector appointed the court and the report has already been handed over to the court. The court has forwarded a copy of the report to the Attorney General for further action and the Registrar of Companies has defrayed the costs of and other incidentals of the investigation. Karim, one of the directors of Ibiza Ltd is a worried man and would like to know:

i) The specific actions the Attorney General could take.
ii) Who is liable to pay the Registrar?
Advise him.
ANSWER
Institute criminal proceedings against any person alleged to have committed an offence.
Institute civil proceedings in the name of the company for the recovery of damages in respect of any fraud, misfeasance or other misconduct in connection with the promotion or formation of the company or management of its affairs.
Institute civil proceedings in the name of the company for the recovery of any property
of the company which has been misapplied or wrongfully retained any person.

Petition for the winding up of the company on the ground that it is just and equitable to do so.

 Any person convicted on a prosecution instituted the Attorney General on the basis of the report.
 Any person who is ordered to pay damages or to restore any property in proceedings instituted on the basis of the report.
Any body corporate dealt the report.
 Any body corporate in whose name proceedings are instituted.
 The applicants for the investigation

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