s 86 Investigation application Of Company
(1) In section 164(1) of the 1948 Act (investigation of company’s affairs on application of members) the following words shall be added at the end of paragraph (6), that is to say, © and (c) in any case, on the application of the company.”. (2) In subsection (2) of that section (applicants to give security for costs not exceeding £100)— (a) for the word “applicants” there shall be substituted the words “ applicant or applicants ” ; and (b) for the words from “ one hundred pounds ” to the end there shall be substituted the words “five thousand pounds, or such other sum as the Secretary of State may by order specify, for the payment of the costs of the investigation. An order under this subsection shall be made by statutory instrument which shall be subject to annulment in pursuance of a resolution of either House of Parliament.”. (3) Section 165(1)(a)(i) of the 1948 Act, which is superseded by subsection (1) above, shall cease to have effect.