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Companies Act, 2008 (Act No. 71 of 2008)

Chapter 7 : Remedies and Enforcement

Part D : Complaints to Commission or Panel

169. Investigation by Commission or Panel

 

 

1) Upon initiating or receiving a complaint, or receiving a direction from the Minister, in terms of this Act, the Commission or Panel, as the case may be, may—
a) except in the case of a direction from the Minister, issue a notice to the complainant in the prescribed form indicating that it will not investigate the complaint, if the complaint appears to be frivolous or vexatious, or does not allege any facts that, if proven, would constitute grounds for remedy under this Act;
b) if they think it expedient as a means of resolving the matter, refer the complainant to the Companies Tribunal, or to an accredited entity, as defined in section 166(3), with a recommendation that the complainant seek to resolve the matter with the assistance of that agency or person; or
c) direct an inspector or investigator to investigate the complaint as quickly as practicable, in any other case.

 

2) At any time during an investigation, the Commission or Panel, as the case may be, may—
a) designate one or more persons to assist the inspector or investigator conducting the investigation; or
b) if a complaint concerns a dispute that is internal to a particular company, and does not appear to implicate a party other than the company, the holders of its securities, its directors, committees, prescribed officers, company secretary, or auditor
i) submit a proposal to the company seeking an agreement to jointly appoint an independent investigator—
aa) at the expense of the company, or on a cost-shared basis; and
bb) to report to both the company, and to the Commission or Panel, as the case may be; or
ii) apply to a court for an order appointing an independent investigator—
aa) at the expense of the company; and
bb) to report to both the Commission or Panel, as the case may be, and the company.

 

3) In conducting an investigation contemplated in this section an inspector or investigator may investigate any person—
a) named in the complaint, or related to a person named in the complaint; or
b) whom the inspector reasonably considers may have information relevant to the investigation of the complaint.