Companies Act 2014 section 447

Prosecution of offences committed by officers and members of company

Section 447 sets out the obligations of a receiver who discovers that a current or former officer, or a member, of a company has committed a criminal offence in relation to that company, including the duty to report such matters and to assist with any resulting prosecution.

• A receiver who discovers that any past or present officer, or any member, of the company appears to have committed an offence in relation to the company must immediately report the matter to both the Director of Public Prosecutions and the Corporate Enforcement Authority.
• The receiver must provide both bodies with all relevant information they request and give them access to inspect and copy any related documents in the receiver's possession or control.
• If a prosecution is brought, the receiver and all past and present officers and agents of the company — including bankers, solicitors, auditors, accountants, book-keepers and other professional advisers — must give all reasonable assistance, unless they are the defendant in the proceedings.
• If any person fails to provide the required assistance, the court may order them to comply, and where the failure relates to a receiver, the court may direct the receiver to bear the costs of that application personally unless the failure was due to insufficient company assets being available to the receiver.