Companies Act 2014 section 723

Prosecution of offences committed by officers and members of company

Section 723 sets out the procedures for reporting and prosecuting potential criminal offences by company officers or members that come to light during a winding up, whether court-ordered or voluntary.

• In a court-ordered winding up, the court may direct the liquidator to refer suspected offences by past or present officers or members to the Director of Public Prosecutions (DPP), either on application by an interested party or on the court's own initiative.
• The liquidator must also report the matter immediately to the Corporate Enforcement Authority, providing both the DPP and the Authority with all requested information and access to relevant documents.
• In a voluntary winding up, the liquidator has a direct duty to report suspected offences immediately to both the DPP and the Authority, without needing a court direction, and must similarly provide full information and document access.
• If a liquidator in a voluntary winding up fails to make these reports, the court can intervene — on application or of its own motion — and direct the liquidator to do so, with the reports then treated as if they had been made voluntarily.