Companies Act 2014 section 763

Investigation of share dealing by inspector appointed by Director

Section 763 empowers the Corporate Enforcement Authority to appoint inspectors to investigate suspected contraventions of the rules governing share dealings by directors and connected persons, including restrictions on certain transactions and the obligation to register interests in shares and debentures.

• The Authority may appoint inspectors where it suspects a breach of the rules on share dealings by directors and connected persons, and the scope of the investigation can be limited by time period or by class of shares or debentures
• Inspectors have powers to examine officers, agents and others connected with the company under investigation, including individuals who are members of an authorised market operator and officers of corporate members of such operators
• The inspector must produce a final report and may produce interim reports, all in written or printed form as directed by the Authority, which may also choose to publish the report
• The Authority bears the costs of the investigation, but where a person is convicted on indictment as a result of the investigation, the court may order that person to pay all or part of those expenses

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