Regulation of Railways Act, 1868

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Examination of affairs by inspectors appointed by Board of Trade on application.

6. The Board of Trade may appoint one or more competent inspectors to examine into the affairs of an incorporated company and the condition of its undertaking, or any part thereof, and to report thereon, upon any one of the applications following; that is to say,

1. Upon application made in pursuance of a resolution passed at a meeting of directors:

2. Upon application by the holders of not less than two-fifths part of the aggregate amount of the ordinary shares or stock of the company for the time being issued:

3. Upon application by the holders of not less than one-half of the aggregate amount of the mortgages, debentures, and debenture stock (if any) of the company for the time being issued:

4. Upon application by the holders of not less than two-fifths of the aggregate amount of the guaranteed or preference shares or stock of the company for the time being issued, provided that the preference capital issued amounts to not less than one-third of the whole share capital of the company.