Right of access to company books
198F Right of access to company books
Right while director
A director of a company may inspect the books of the company (other than its financial records) at all reasonable times for the purposes of a legal proceeding:
to which the person is a party; or
that the person proposes in good faith to bring; or
that the person has reason to believe will be brought against them.
Section 290 gives the director a right of access to financial records.
This section also applies to a director of a corporate director of a CCIV: see section 1225D.
Right during 7 years after ceasing to be director
A person who has ceased to be a director of a company may inspect the books of the company (including its financial records) at all reasonable times for the purposes of a legal proceeding:
to which the person is a party; or
that the person proposes in good faith to bring; or
that the person has reason to believe will be brought against them.
This right continues for 7 years after the person ceased to be a director of the company.
Right to take copies
A person authorised to inspect books under this section for the purposes of a legal proceeding may make copies of the books for the purposes of those proceedings.
Company not to refuse access
A company must allow a person to exercise their rights to inspect or take copies of the books under this section.
Interaction with other rules
This section does not limit any right of access to company books that a person has apart from this section.
This Act’s bill:Explanatory memorandumSecond reading speech
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