SECTION 153.

I move amendment No. 218:

In page 120, line 42, to delete "299 (2)", and substitute "299 (2), (4) and (5)".

Section 153 currently applies section 299 (2) of the Principal Act to receivers. That particular provision of the Principal Act requires a liquidator to report any suspected criminal offences to the Director of Public Prosecutions so that section 153 of the Bill would simply place the same duty on receivers. However, having looked at the section again, the reference to section 299 (2) does not go far enough since section 299 (4) and (5) are necessary supplements to subsection (2). Therefore, if we are applying section 299 (2) to receiverships we really ought to apply subsections (4) and (5) as well. The effect of this would be that, where a receiver makes a report to the DPP, it would then be the statutory duty of the receiver and of any officer or agent of the company concerned, other than the actual defendant, to give all assistance with the proceedings which they are reasonably able to give. "Agent" in this context would include the company's bankers, solicitors and auditors.

Amendment, agreed to.
Section 153, as amended, agreed to.
Progress reported; Committee to sit again.
The Special Committee adjournedsine die.