Companies Act (Cap. 386), article 414

414. (1) Where it appears to the R egistrar that there is good reason to appoint one or more in spectors to investigate and rep ort on the membership of any company for the purpose of determining the true persons who are or have been financially interested in the success or failure of the company or able to control or materia lly influence its policy, he may by letter of authority appoint one or more inspectors for such purpose. (2) The appointment of inspectors made by virtue of this article may establish the scope of their investigation, whether as resp ects the matter or the period to which it is to extend or otherwise, and in particular may limit the investigation to matters connected wit h particular shares or debentures. (3) If a request for an investigation under this article with respect to particular shares or debentures of a company is made to the Registrar by members of the company, and the number of persons making the request or the amount of the shares held by them is not less than that requi red for a request for the appoi ntment of inspectors made by virtue of article 404(2) - (a) the Registrar shall appoint inspectors to conduct the investigation, unless he is satisfied that the request is vexatious; and (b) t h e R e g i s t r a r m a y e x c l u d e f r o m t h e s c o p e o f t h e investigation any matter in respect of which he is satisfied that it would be unreasonable to investigate. (4) Subject to the terms of their appointment, the inspectors’ powers shall extend to the investigation of any circumstances suggesting the existence of an arrangement or understanding which, though not legally binding, is or was adhered to or like ly to be adhered to in practice and which is relevant to the purposes of the investigation. (5) The Registrar may, before appointing inspectors, require the person or persons making the request to give such security as he may require for payment of ex penses of the investigation. Provisions applicable on investigation under article 414.