Section 82
Inspection of books of member institutions
(1)
The Corporation may from time to time inspect, under conditions of secrecy, the books of a member institution for the purposes of this Act.
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(2)
For the purposes of an inspection under this section —
(a)
the member institution and any other person who is in possession of the books of the member institution shall produce such books to the Corporation and give such information or facilities as may be required by the Corporation.
(b)
the member institution shall procure that any other person who is in possession of its books produce its books to the
Corporation and give such information or facilities as may be required by the Corporation; and
(c)
the Corporation may —
(i)
make copies of, or take possession of, any of such books;
(ii)
use, or permit the use of, any of such books for the purposes of any proceedings under this Act; and
(iii)
retain possession of any of such books for so long as is necessary —
(A)
for the purposes of exercising a power conferred by this section;
(B)
for a decision to be made on whether or not proceedings should be commenced under this
Act in relation to such books; or
(C)
for such proceedings to be commenced and carried on.
(3)
No one shall be entitled, as against the Corporation, to claim a lien on any of the books, such a lien is not otherwise prejudiced.
(4)
The Corporation may require a person who produced any book to the Corporation to explain, to the best of his knowledge and belief, any matter about the compilation of the book or to which the book relates.
(5)
Any person who, without reasonable excuse, contravenes subsection (2) or a requirement of the Corporation under subsection (4) is guilty of an offence and liable on conviction to a fine not exceeding $100,000, imprisonment for a term not exceeding 2 years or both
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and, in the case of a continuing offence, to a further fine not exceeding $1,000 for every day or part thereof during which the offence continues after conviction.