Section 15
Powers to obtain information and documents, etc.
of International Banking Order, 2000
(1)
The Authority may by notice served on a licensee –
Incorporating amendments until S 1/2016
(Cleancopy) NANI/Bb_as of 08.05.2019
NOTE: Amendment on P1S1 and P45S2 [24.04.2019]; P3S1, P1S2, P10S2, P11S2, P16S2-P18S2P28S2, P31S2, P34S2, P35S2, P39S2,
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BLUV as at 14th January 2016
(a)
require the licensee to provide the Authority, at such times or at such intervals or in respect of such period or periods as may be specified in the notice, with such information as the Authority may reasonably require for the performance of his functions under this Order;
(b)
require the licensee to provide the Authority with a report by a nominated or approved accountant, legal counsel or other person with relevant professional skill on, or on any aspect of, any matter about which the Authority has required or could require the licensee to provide information under paragraph (a);
and a notice under this subsection may require the information or report to be in such form as is specified in the notice.
(2)
In subsection (1)(b) “nominated or approved” means nominated or approved by the Authority.
(3)
The Authority may –
(a)
by notice in writing served on a licensee, a director or other officer require the licensee or such director or officer to produce, within such time and at such place as may be specified in the notice, such document or documents of such description as may be so specified;
(b)
authorise a person appointed by the Authority (in this section referred to as “the appointee”), on production of his authority, to require the licensee to provide the appointee forthwith with such information or to produce to the appointee forthwith such documents as he may specify, being such information or documents as the Authority may reasonably require for the performance of his functions under this Order.
(4)
Where, by virtue of subsection (1), the Authority or any appointee has power to require the production of any documents from a licensee, the Authority or appointee shall have the same power to require the production of those documents from any person who appears to be in possession of them; but where any person from whom production of any documents is
Incorporating amendments until S 1/2016
(Cleancopy) NANI/Bb_as of 08.05.2019
NOTE: Amendment on P1S1 and P45S2 [24.04.2019]; P3S1, P1S2, P10S2, P11S2, P16S2-P18S2P28S2, P31S2, P34S2, P35S2, P39S2,
19
BLUV as at 14th January 2016
required under this section claims a lien on documents produced by him, the production shall be without prejudice to that lien.
(5)
Any power under this section to require a person to produce documents includes power –
(a)
if the documents are produced, to take copies of them or extracts from them and to require the person in question or, where that person is an institution, any other person who is a present or past director, controller or manager of, or is or was at any time employed by or acting as an employee of, that institution, to provide an explanation of them; and
(b)
if the documents are not produced, to require the person who was required to produce them to state, to the best of his knowledge and belief, where they are.
(6)
The Authority may be notice in writing served on any person who is or is to be a director, controller or manager of a licensee, require him to provide to the Authority, within such time as may be specified in the notice, with such information or documents as the
Authority may reasonably require for determining whether he is a fit and proper person to hold the position which he holds or is to hold.
(7)
A statement made by a person in compliance with a requirement imposed by this section may be used in evidence against him.
(8)
Nothing in this section entitles the Authority to require any person to furnish information in circumstances which would give rise to a contravention by him of section 18(1).
Assistance to designated supervisory authority.