New South Wales Consolidated Acts

BRITISH HOME SUPPLIES PTY., LIMITED (INVESTIGATION) ACT 1942 - SECT 3

3 Appointment and powers of inspector

(1) The Public Trustee is hereby appointed an inspector to investigate the affairs of the company and to report thereon to the Governor.

(2) Without prejudice to the generality of subsection one of this section the investigation shall extend to:

(a) the circumstances in which the agency agreement was entered into, and the effect of such agreement on the operations and affairs of the company,

(b) the circumstances in which the issue of debentures was made by the company, and the circumstances in which and the arrangements under which such debentures were cancelled and the mortgage given,

(c) the provision (if any) made by the company to secure or preserve the rights of purchasers from the company.

(3) The Public Trustee shall at all times have a right of immediate access to all books, documents and records of the company (including any such books, documents and records which are in the custody or under the control of the receiver and manager or of the mortgagee) and to all books, documents and records of the receiver and manager which relate to the discharge or performance of his duties and functions as receiver and manager of the property of the company.

(4) The receiver and manager and any employee or agent of the receiver and manager shall supply the Public Trustee with any information required by the Public Trustee relating to the transactions of the receiver and manager.
Any person who is or at any time, whether before or after the commencement of this Act, has been a director, manager, officer, agent or employee of the company, shall supply the Public Trustee with any information required by the Public Trustee relating to the business or affairs of the company.
In this subsection the expression “agents” in relation to the company shall be deemed to include the bankers and solicitors of the company and any persons employed by the company as auditors whether such persons are or are not officers of the company.

(5) Any person who neglects or fails to comply with any requirement of the Public Trustee under subsection four of this section shall be guilty of an offence and shall be liable to a penalty not exceeding two hundred pounds or to imprisonment for a period not exceeding one year.