Companies Act 2014 section 524

Powers of an examiner

Section 524 sets out the powers granted to an examiner appointed to a company, including rights to information, authority over meetings, power to intervene against detrimental actions, and protection from liability when fulfilling their duties.

• An examiner has the same rights as a statutory auditor to obtain information and cooperation from the company, and can convene, set the agenda for, chair, and speak at board and general meetings
• Where the examiner identifies any act, omission, decision or contract that is or could be detrimental to the company's income, assets or liabilities, they may take whatever steps are necessary to halt, prevent or rectify it, subject to the rights of parties who acquired an interest in good faith and for value
• The examiner may apply to the court for directions on any question arising during the examinership, or to seek the exercise of court powers normally available to members, contributories, creditors or directors, and may also ascertain and agree claims against the company if directed by the court
• An examiner is protected from liability and cannot be regarded as having breached any professional or legal duty by reason of complying with obligations imposed under this section