(1) Any complaint made by an inspector or by any company or by any member or creditor of a company to the Registrar pursuant to section 406 of the Act shall be supported by a statutory declaration as to the facts and the Registrar may require the complainant other than an inspector to give security to an amount not exceeding Fifty pounds for payment of the costs of the inquiry.
(2) The Registrar shall cause to be served on any registered auditor or liquidator concerned, a written notice stating that a complaint has been made and setting out concisely the subject matter of the complaint. The notice shall also specify a time and a day being not less than five days from the service of the notice when the complaint or other matter will be considered by the Registrar. The requirements of this sub-regulation mutatis mutandis shall be observed when the Registrar of his own initiative holds an inquiry under subsection (1) of section 406 of the Act.
(3) Such auditor or liquidator shall be entitled to be heard on any inquiry affecting him held by the Registrar pursuant to section 406 of the Act.
(4) It shall be the duty of all officers and agents of the company concerned to produce to the Registrar all books and documents in their custody or power.
(5) On any inquiry under section 406 of the Act, the Registrar may by summons under his hand require any officer, agent, auditor or liquidator of a company and any witness to appear before him for examination and such summons may require the production of all books and documents in the custody or power of the officer, auditor or liquidator of the company or of the witness.
(6) The Registrar may in the exercise of his functions under section 406 of the Act exercise any powers which the magistrate of a local court could exercise for procuring the attendance of witnesses, and punishing witnesses who fail to attend when required, and administering oaths and affirmations and taking evidence on oath, and the provisions of the Local Courts Act 1904, as to all these matters, shall be construed so as to apply to any inquiry by the Registrar under such section.
(7) If any person summoned to give evidence on any such inquiry refuses to be sworn or to answer to the satisfaction of the Registrar any question which he may put or allow to be put, the Registrar shall report such refusal in a summary way to the Court, and upon the report being made the witness in default shall be in the same position and be dealt with in the same manner as if he had refused to be sworn or made default in answering before a judge and the Court may make such order as it deems fit.
(8) The Registrar may make such order as to the costs of the inquiry as the Registrar deems just, and any such order for costs may be enforced in the like manner in which an order for costs in a civil action in the Supreme Court may be enforced.
(9) For the purposes of this regulation 34.}inspector~ means any person duly appointed as such by the Registrar or by the Court under the Act.
Any certificate of registration of a liquidator or auditor issued pursuant to section 402 of the Act shall be returned to the Registrar by the holder thereof forthwith upon the cancellation of such registration.