(1)If-(a)during the course of any investigation of the affairs and other matters of or relating to a company, body or person under section 235, section 237 or section 239 or of the membership and other matters of or relating to a company, or the ownership of shares in or debentures of a company or body corporate, or the affairs and other matters of or relating to a company, body or person, under section 247, [* * *][; or [Inserted by Act 32 of 1964, Section 2 (w.e.f. 9.10.1964). ](b)during the pendency of any proceeding against any person concerned in the conduct and management of the affairs of a company under Chapter IV-A of Part VI, such company, body or person proposes-(i)to discharge, or(ii)to punish, whether by dismissal, removal, reduction in rank or otherwise, any employee, the company, body or person, as the case may be, shall send by post to the [Tribunal][previous intimation in writing of the action proposed against the employee and if the [Tribunal] [Inserted by Act 32 of 1964, Section 2 (w.e.f. 9.10.1964). ][has any objection to the action proposed, it shall send by post notice thereof in writing to the company, body or person concerned. [Inserted by Act 32 of 1964, Section 2 (w.e.f. 9.10.1964). ]
