Company investigations under section 432 of the Companies Act 1985
Companies are regulated by the Department for Business and Trade (DBT) to protect Investors, suppliers and customers from corporate Misconduct. The Secretary of State (SoS) may appoint inspectors to investigate a company's affairs in circumstances described in section 432 of the Companies Act 1985 (CA 1985). The Insolvency Service Legal Services Directorate (LSD) is the lead criminal enforcement agency for insolvency related fraud and corporate misconduct. The investigative powers under CA 1985 may also be exercised in respect of overseas companies carrying on business in the UK.
Where there are circumstances to suggest that a company or those involved in the running of the company have been engaged in fraud, misfeasance or other misconduct, the CA 1985 provides investigators with wide powers of investigation, including the power to:
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require a company to produce all documents in respect of the company, or in respect of another company
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require a company to attend before the inspectors when required to do so
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to give inspectors assistance in connection with an investigation
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Jurisdiction(s):
United Kingdom
Related legal acts:
Key definition:
Industrial Strategy definition
What does Industrial Strategy mean?
In January 2017 beis published a green paper: Building our Industrial Strategy. The broad objective of the industrial strategy is to improve living standards and economic growth by increasing productivity and driving growth across the whole country. The strategy identifies the following 10 key pillars: (a) Science (b) research and innovation (c) Skills (d) Infrastructure (e) Business growth and investment (f) Procurement (g) Trade and investment (h) Affordable energy (i) Sectoral policies (j) Driving growth across the whole country (k) Creating the right institutions to bring together sectors and places. On 7 December 2017 the Nuclear Industry Council published its proposals for a nuclear sector deal focussing on how working with the UK Government, substantial cost reduction could be achieved across the UK's new build and decommissioning programmes.
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