Company Law Enforcement Act, 2001

Repeal and substitution of section 247 of Act of 1963 — Power to arrest absconding contributory or officer of company.

46.—Section 247 of the Act of 1963 is repealed and the following substituted:

“247.—The court, at any time either before or after making a winding-up order, on proof of probable cause for believing that a contributory, director, shadow director, secretary or other officer is about to quit the State or otherwise to abscond or to remove or conceal any of his property for the purpose of evading payment of calls or of avoiding examination about the affairs of the company, may, of its own motion or on the application of the Director, a creditor of the company or any other interested person, cause the contributory, director, shadow director, secretary or other officer to be arrested, and his books and papers and movable personal property to be seized and him and them to be detained until such time as the court may order.”.