Companies Act (Cap. 386), article 412

412. (1) The expenses of and incidental to an investigation by inspectors appointed by the Registrar shall be defrayed by him; provided that the persons mentioned in sub-articles (2) to (5) shall be, to the extent there specified, liable to make repayment to the Registrar. (2) A person who is convicted on a prosecution instituted as a result of the investigation, or is ordered to pay the whole or any part of the costs of proceedings b rought under article 411 may in the same proceedings be ordere d to pay those expenses to such extent as may be specified in the order. (3) A body corporate in whose n ame proceedings are brought under article 411 shall be liable to the amount or value of any sums or assets recovered by it as a result of those proceedings; and any amount for which a body corporate is liable under this sub-arti cle shall be paid, in priority to all other claims, from the sums o r assets recovered. (4) A body corporate dealt with b y the inspectors’ report shall be liable for the expenses of an d incidental to the investigati on unless that body corporate was the applicant for the investigat ion, and unless the Registrar otherwise directs. (5) The applicant or applicants for the investigation, where the inspectors were appointed under article 404, shall be liable to such extent, if any, as the Registrar may direct. (6) The report of the inspectors may include a recommendation as to the directions which they think appropriate, in the light of their investigation, to be given under sub-article (4) or sub-a rticle (5). ( 7 ) F o r t h e p u r p o s e s o f t h i s a r t i c l e , a n y c o s t s o r e x p e n s e s incurred by the Registrar in or in connection with proceedings brought under article 411 are to be treated as expenses of the investigation giving ri se to the proceedings. (8) Any liability to repay the Registrar arising from sub- articles (2) and (3) shall, subjec t to satisfaction of the righ t of the Registrar to repayment, be a liability also to indemnify all pe rsons against liability under sub-articles (4) and (5); and any such liability imposed by sub-article (2) shall, subject as mentione d above, be a liability also to indemnify all persons against lia bility under sub-article (3). (9) A person liable under any one of the sub-articles referred t o in sub-article (8) is entitled to contribution from any other p erson COMP ANIES [CAP. 386. 257 liable by virtue of the same sub- article, according to the amou nt of their respective liabilities by virtue of that sub-article. (10) Expenses to be defrayed by the Registrar under this article shall, insofar as not recovered by virtue of its provisions, be paid out of public funds. Inspectors’ report to be admissible as evidence.