Companies Act 2014 section 747

Investigation of company's affairs by court appointed inspectors on application of company etc.

Section 747 deals with how the court may appoint one or more inspectors to investigate a company's affairs, who may apply for such an appointment, and which court has jurisdiction depending on the size of the company.

• The court may appoint inspectors to investigate a company's affairs on the application of the company itself, at least 10 members, members holding one-tenth or more of the paid-up share capital (excluding treasury shares), a director, or a creditor.
• The applicant must give the Corporate Enforcement Authority at least 14 days' written notice before making the application, and the Authority is entitled to appear and be heard at the hearing.
• For small or medium-sized companies (as defined by sections 280A, 280B, 280F or 280G), the application is made to the Circuit Court rather than the High Court, though the Circuit Court cannot wind up a body corporate and must refer any such matter to the High Court.
• The court may require the applicant to provide security for the costs of the investigation, and the power to appoint inspectors applies even where the company is already in the course of being wound up.

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