LOAN FUND COMPANIES ACT 1976 - SECT 55
Expenses of inquiry
LOAN FUND COMPANIES ACT 1976 - SECT 55
Expenses of inquiry
55 Expenses of inquiry
(1) Subject to this section, the expenses of and incidental to an inquiry
under this Division (including the expenses incurred and payable by the
Minister in proceedings brought by the Minister in the name of a
loan fund company under section 52 (8)) shall be defrayed out of money
provided by Parliament for the purpose.
(2) The Minister may, with respect to
an inquiry under this Division, give a direction:
(a) that any
loan fund company or specified person concerned in the inquiry, within such
period (being not less than 7 days) as is specified in the direction, pay the
whole or a specified part of the expenses of and incidental to the inquiry,
(b) where expenses have been defrayed under subsection (1), that any
loan fund company or specified person concerned in the inquiry, within such
period (being not less than 7 days) as is specified in the direction, pay
those expenses or reimburse the Crown to the extent thereof, or
(c) that any
loan fund company or specified person concerned in the inquiry, within such
period (being not less than 7 days) as is specified in the direction, pay, or
reimburse the Crown in respect of, the remuneration of any servant of the
Crown concerned with the inquiry,
and serve the direction on that company or
person.
(3) If a loan fund company on which or a person on whom a direction
has been served under subsection (2) fails to pay the amount specified in the
direction within the period so specified, that amount shall be recoverable
from that company or person in a court of competent jurisdiction as a debt due
to the Crown.
