• Other Powers Of Investigation Available To The Registrar

    • 902. Provisions applicable on investigation under section 902

      (1) For purposes of an investigation under section 901, sections 895, 896, 897 and 898 apply with the necessary modifications of references to the affairs of the company or to those of any other body corporate, subject however to the following subsections.
      (2) Those sections apply to—
      (a) all persons who are or have been, or whom the inspector has reasonable cause to believe to be or have been, financially interested in the success or failure or the apparent success or failure of the company or any other body corporate whose membership is investigated with that of the company, or able to control or materially influence its policy (including persons concerned only on behalf of others), and
      (b) any other person whom the inspector has reasonable cause to believe possesses information relevant to the investigation,
      as they apply in relation to officers and agents of the company or the other body corporate (as the case may be).
      (3) If the Registrar is of opinion that there is good reason for not divulging any part of a report made by virtue of section 901 and this section, it may under section 898 disclose the report with the omission of that part, and it may cause to be kept by the Registrar of companies a copy of the report with that part omitted or, in the case of any other such report, a copy of the whole report.

    • 903. Power to obtain information as to those interested in shares, etc

      (1) If it appears to the Registrar that there is good reason to investigate the ownership of any shares in or debentures of a company and that it is unnecessary to appoint inspectors for the purpose, it may require any person whom it has reasonable cause to believe to have or to be able to obtain any information as to the present and past interests in those shares or debentures and the names and addresses of the persons interested and of any persons who act or have acted on their behalf in relation to the shares or debentures to give any such information to the Registrar.
      (2) For this purpose a person is deemed to have an interest in shares or debentures if he has any right to acquire or dispose of them or of any interest in them, or to vote in respect of them, or if his consent is necessary for the exercise of any of the rights of other persons interested in them, or if other persons interested in them can be required, or are accustomed, to exercise their rights in accordance with his instructions.
      (3) A person who fails to give information required of him under this section, or who in giving such information makes any statement which he knows to be false in a material particular, or recklessly makes any statement which is false in a material particular, commits a contravention of these Regulations.
      (4) A person who is found to have committed a contravention under this section shall be liable to a fine of up to level 8.

    • 904. Power to impose restrictions on shares and debentures

      (1) If in connection with an investigation under either section 901 or 903 it appears to the Registrar that there is difficulty in finding out the relevant facts about any shares (whether issued or to be issued), it may by order direct that the shares shall until further order be subject to the restrictions of Chapter 2 of this Part.
      (2) If the Registrar is satisfied that an order under subsection (1) may unfairly affect the rights of third parties in respect of shares then the Registrar, for the purpose of protecting such rights and subject to such terms as it thinks fit, may direct that such acts by such persons or descriptions of persons and for such purposes as may be set out in the order, shall not constitute a breach of the restrictions of Chapter 2 of this Part.
      (3) This section, and Chapter 2 in its application to orders under it, apply in relation to debentures as in relation to shares save that subsection (2) shall not so apply.

    • 905. General powers to give directions

      (1) In exercising his functions an inspector shall comply with any direction given to him by the Registrar under this section.
      (2) The Registrar may give an inspector appointed under section 893, 894(2)or 901(1) a direction–
      (a) as to the subject matter of his investigation (whether by reference to a specified area of a company’s operation, a specified transaction, a period of time or otherwise), or
      (b) which requires the inspector to take or not to take a specified step in his investigation.
      (3) The Registrar may give an inspector appointed under any provision of this Part a direction requiring it to secure that a specified report under section 898
      (a) includes the inspector’s views on a specified matter,
      (b) does not include any reference to a specified matter,
      (c) is made in a specified form or manner, or
      (d) is made by a specified date.
      (4) A direction under this section–
      (a) may be given on an inspector’s appointment,
      (b) may vary or revoke a direction previously given, and
      (c) may be given at the request of an inspector.
      (5) In this section–
      (a) a reference to an inspector’s investigation includes any investigation he undertakes, or could undertake, under section 895 (power to investigate affairs of holding company or subsidiary),
      (b) “specified” means specified in a direction under this section.

    • 906. Direction to terminate investigation

      (1) The Registrar may direct an inspector to take no further steps in his investigation.
      (2) The Registrar may give a direction under this section to an inspector appointed under section 894(1)or 901(3) only on the grounds that it appears to it that–
      (a) matters have come to light in the course of the inspector’s investigation which suggest that a contravention of these Regulations or any other law of regulation applicable in the Abu Dhabi Global Market has been committed, and
      (b) those matters have been referred to the appropriate prosecuting authority.
      (3) Where the Registrar gives a direction under this section, any direction already given to the inspector under section 898(1) to produce an interim report, and any direction given to him under section 905(3) in relation to such a report, shall cease to have effect.
      (4) Where the Registrar gives a direction under this section, the inspector shall not make a final report to the Registrar unless–
      (a) the direction was made on the grounds mentioned in subsection (2) and the Board directs the inspector to make a final report to it, or
      (b) the inspector was appointed under section 894(1)(appointment in pursuance of order of the Court).
      (5) An inspector shall comply with any direction given to him under this section.
      (6) In this section, a reference to an inspector’s investigation includes any investigation he undertakes, or could undertake, under section 895 (power to investigate affairs of holding company or subsidiary).