Section 785 CAMA 2020
Section 785 Companies and Allied Matters Act is about Expenses of investigation. It is under Chapter 8 (Investigation) of the Act.
(1) The expenses of, and incidental to, an investigation by an inspector appointed by the Commission under the foregoing provisions of this Act, shall be defrayed in the first instance out of the Consolidated Revenue Fund, but the following persons shall, to the extent mentioned, be liable to repay—
(a) any person who is convicted in a prosecution instituted, as a result of the investigation report by the Attorney-General of the Federation, or whois ordered to pay damages or restore any property in proceedings brought by virtue of section 783 (3) of this Act, may in the same proceedings be ordered to pay the said expenses to such extent as specified in the order ;
(b) a body corporate in whose name proceedings are brought as aforesaid is liable to the extent of the amount or value of any sums or property recovered by it as a result of those proceedings ;
(c) unless as the result of the investigation a prosecution is instituted bythe Attorney-General of the Federation, the applicants for the investigation,where the inspector was appointed under section 775 (3) of this Act, shall be liable to such extent, if any, as the Commission may direct, and any amount for which a body corporate is liable by virtue of paragraph (b), shall be a first charge on the sums or property mentioned in that paragraph.
(2) For the purposes of this section, any costs or expenses incurred by the Commission in or in connection with proceedings brought by virtue of section 781 (2) of this Act, shall be treated as expenses of the investigation giving rise to the proceedings.
(3) Expenses to be defrayed by the Commission under this section shall, so far as not recovered thereunder, be paid out of the Consolidated Revenue Fund.
