Trustee Ordinance

(1)
The Financial Secretary may at any time appoint an inspector to investigate the
                affairs and management of any trust company if it appears to the Financial Secretary
                that there are circumstances
suggesting—
(a)
that the trust company has committed a breach of trust;
(b)
that the business of the trust company has been or is being conducted with
                    intent to defraud its creditors or the creditors of any other person or
                    otherwise for a fraudulent or unlawful purpose or in a manner oppressive of any
                    part of its members or that it was formed for any fraudulent or unlawful
                    purpose;
(c)
that the persons concerned with the formation of the trust company have, in
                    connection with the formation, engaged in fraud, misfeasance or other misconduct
                    towards it or its members;
(Replaced
14 of 2025 s. 102
)
(ca)
(if the trust company is a re-domiciled company) that the persons involved
                    in seeking or obtaining the registration under
section 820C(1)
of the
                    Companies Ordinance (
Cap. 622
)
                            (
registration
) have, in connection with the registration,
                    engaged in fraud, misfeasance or other misconduct towards it or its members;
(Added
14 of 2025 s. 102
)
(cb)
that the persons concerned with the management of the trust company have,
                    in connection with the management, engaged in fraud, misfeasance or other
                    misconduct towards it or its members;
(Added
14 of 2025 s. 102
)
(d)
that its members have not been given all the information with respect to
                    its affairs that they might reasonably expect;
(e)
that it is insolvent; or
(f)
that it has failed to comply with any of the requirements of this
                        Part.
(Replaced
9 of 1993 s. 5
)
(1A)
The Financial Secretary may give directions as to the manner in which and the extent to which an investigation under subsection (1) shall be conducted.
(Added
9 of 1993 s. 5
)
(2)
It shall be the duty of all officers and servants of the company to produce for examination by the inspector all books, accounts, vouchers and other documents in their custody or control in relation to matters under investigation, and to answer truly all inquiries addressed to them by the inspector respecting any matter affecting the affairs of the company.
(3)
The inspector shall make a report of his investigation to the Financial Secretary.
(4)
All expenses of and incidental to any such investigation shall be paid by the company, if the Financial Secretary so directs.