Chapter: 32  COMPANIES ORDINANCE

Section Num: 145B  Version Date 13/02/2004

Power of inspector to call for director's accounts

If an inspector has reasonable grounds for believing that a director or past director of the company or other body corporate whose affairs he is investigating maintains or has maintained an account of any description with a bank, deposit-taking company or similar financial institution (whether alone or jointly with any other person and whether in Hong Kong or elsewhere), into or out of which there has been paid-

(a) any emolument, pension or compensation, or any part thereof, in respect of his office as such director particulars of which have not been shown in the accounts, or in any statement annexed thereto, of the company or other body corporate, contrary to section 161;

(b) any money which has resulted from or been used in the financing of any transaction particulars of which are not contained in the accounts of any company for any financial year, contrary to section 161B;  (Amended 28 of 2003 s. 54)

(c) any money which has been in any way connected with an act or omission, or series of acts or omissions, which on the part of that director constituted misconduct (whether fraudulent or not) towards the company or body corporate or its members, the inspector may require the director to produce to him all documents in the director's possession, or under his control, relating to that account.

(Added 10 of 1987 s. 6)