Cap. 371 Art. 23Suspected breaches.

(1) Where the competent authority has reasonable grounds for suspecting that a person has contravened or has failed to comply with any provision of this Act or any regulations made or Banking

Rules or Conduct of Business Rules issued thereunder, it may by notice in writing require that person or any other person -

(a) to provide at such place as may be specified in the notice and either forthwith or at such time as may be so specified, such information as it may reasonably require for the purpose of investigating the suspected contravention or failure to comply;

(b) to produce, at such place as may be specified in the notice and either forthwith or at such time as may be so specified, such documents, or documents of such description as may be specified which it may reasonably require for that purpose;

(c) to attend at such place and time as may be specified in the notice, and answer questions relevant for determining whether such a contravention or failure to comply has occurred.

(2) The competent authority or their duly authorised officer, employee or agent may take copies of or extracts from any documents produced under this article.

(3) Any officer, employee or agent of the competent authority may, between five o'clock in the morning and nine o'clock at night, on producing if required evidence of his authority, enter any premises occupied by a person on whom a notice has been served under sub-article (1) for the purpose of obtaining there the information or documents required by the notice, putting the questions referred to in paragraph (c) of that sub-article or exercising the powers conferred by sub-article (2).

(4) No person shall without lawful excuse fail to comply with a requirement imposed on him under this article or intentionally obstruct a person in the exercise of the rights conferred by sub-article (3).

(5) A statement made by a person in compliance with a requirement imposed by virtue of this article may be used in evidence against him.