(1) The Court may appoint one or more competent inspectors to investigatethe affairs of a company and to report on those affairs in such manner as the Court directs—
(a) in the case of a company having a share capital — on the application either of—
(i) not fewer than two hundred members; or
(ii) members holding not less than one-tenth of the nominal value of the company's share capital; or
(b) in the case of a company not having a share capital—on the application of not less than one-fifth in number of the members of the company.
(2) The Court may decline to proceed with the application unless the applicantsproduce such evidence as the Court may require for the purpose of showing that the applicants have good reason for requiring the investigation.
(3) Before appointing an inspector, the Court may require the applicants to give security of an amount not exceeding five hundred thousand shillings as contribution towards meeting the costs of the investigation.
(a) in the case of a company having a share capital — on the application either of—
(i) not fewer than two hundred members; or
(ii) members holding not less than one-tenth of the nominal value of the company's share capital; or
(b) in the case of a company not having a share capital—on the application of not less than one-fifth in number of the members of the company.
(2) The Court may decline to proceed with the application unless the applicantsproduce such evidence as the Court may require for the purpose of showing that the applicants have good reason for requiring the investigation.
(3) Before appointing an inspector, the Court may require the applicants to give security of an amount not exceeding five hundred thousand shillings as contribution towards meeting the costs of the investigation.
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