s 76 Investigation and report on requisition of members
(1) A company may be required to exercise its powers under section 74 of this Act on the requisition of members of the company holding at the date of the deposit of the requisition not less than one-tenth of such of the paid up capital of the company as carries at that date the right of voting at general meetings of the company. (2) The requisition must— (a) state that the requisitionists are requiring the company to exercise its powers under section 74 of this Act ; (b) specify the manner in which they require those powers to be exercised ; and (c) give reasonable grounds for requiring the company to exercise those powers in the manner specified ; and must be signed by the requisitionists and deposited at the registered office of the company. (3) The requisition may consist of several documents in like form each signed by one or more requisitionists. Companies Act 1981 c. 62 (4) On the deposit of a requisition which complies with this section it shall be the duty of. the company to exercise its powers under section 74 of this Act in the manner specified in the requisition. (5) On the conclusion of any investigation carried out by a company in pursuance of a requisition under this section it shall be the duty of the company to cause a report of the information received in pursuance of that investigation to be prepared, and that report shall be made available at the registered office of the company within a reasonable period after the conclusion of that investigation. (6) Where— (a) a company undertakes an investigation in pursuance of a requisition under this section ; and (b) that investigation is not concluded before the end of the period of three months beginning with the date immediately following the date of the deposit of the requisition ; it shall be the duty of the company to cause to be prepared, in respect of that period and each successive period of three months ending before the conclusion of the investigation, an interim report of the information received during that period in pursuance of the investigation, and each such interim report shall be made available at the registered office of the company within a reasonable period after the end of the period of three months to which it relates. (7) The period for making any report prepared under this section available as required by subsection (5) or (6) above shall not exceed fifteen days. (8) A report prepared under this section shall not include any information with respect to a company entitled to avail itself of the benefit conferred by section 3(3) or 4(3) of the 1967 Act (where disclosure of substantial holdings in bodies incorporated or carrying on business outside the United Kingdom would be harmful) but where any such information is omitted that fact shall be stated in the report. (9) The company shall within three days of making any report prepared under this section available at its registered office notify the requisitionists that the report is so available. (10) An investigation carried out by a company in pursuance of a requisition under this section shall be regarded for the purposes of this section as concluded when the company has made all such enquiries as are necessary or expedient for the D c. 62 Companies Act 1981 purposes of the requisition and, in the case of each such enquiry, either a response has been received by the company or the time allowed for a response has elapsed. (11) Any report prepared under this section— (a) shall be kept at the company’s registered office from the day on which it is first made available there in accordance with subsection (5) or (6) above until the expiration of the period of six years beginning with the day next following that day ; and (b) shall be available for inspection in accordance with section 80 of this Act so long as it is so kept. (12) If default is made in complying with subsection (4), (5), (6) (9) or (11)(@) above the company and every officer of the company who is in default shall be liable— (a) on conviction on indictment, to a fine ; and (b) on summary conviction, to a fine not exceeding the statutory maximum.