Companies Act, 2017

PART-VII

INVESTIGATION AND RELATED MATTERS

Companies Act, 2017 PART-VII INVESTIGATION AND RELATED MATTERS From: 2023-11-01 - To: 0000-00-00 258. Serious Fraud Investigation.- (1) Notwithstanding anything contained in sections 256 and 257, the Commission may authorize any one (2) The persons appointed as inspectors or investigation officer under sub-section (1) shall have all powers of investigation officer under this Act, the Securities and Exchange Commission of Pakistan Act, 1997 (XLII of 1997) and Code of Criminal Procedure, 1898 (Act V of 1898), mutatis mutandis and shall report in such manner as the Commission may direct. (3) Where no procedure is provided in this Act or Securities and Exchange Commission of Pakistan Act, 1997 (XLII of 1997) the investigation officer shall comply with the relevant provisions of Code of Criminal Procedure, 1898 (Act V of 1898). (4) Notwithstanding anything contained in this Act or any other law, the Commission may, if it is satisfied that the matter is of public importance or it is in the interest of public at large, request ![ J the Federal Government to form a Joint Investigation Team to be headed by a senior level officer of the Commission, not below the rank of additional director, and may include any person mentioned in sub section (1) alongwith Gazetted officer of any Federal law enforcement agency, bureau or authority for providing assistance in investigating the offence under this section and the direction of 1[the concerned Minister-in-Charge of] the Federal Government under this section shall be binding and any person who fails to comply with such directions, shall be guilty of an offence punishable with simple imprisonment of thirty days or fine up to one hundred thousand rupees by the Court: Provided that nothing in this section shall be in derogation to or affect any proceedings…