Section 12
of Money-Changing and Remittance Businesses Act
Section 12
(1)
Any person duly authorised by the Authority to act on his behalf may at any reasonable time enter any premises where a licensee is carrying on business, or any premises where he reasonably suspects any business is being carried on the contravention of this Act, and may inspect the premises and any book or document on those premises which he reasonably requires to inspect for the purpose of ascertaining whether a contravention of this Act or any regulations made thereunder1s being or has been committed.
Powersto investigate
(2)
Any person who -
(a)
fails without reasonable excuse to admit any person who demands admission to the premises in pursuance of subsection (1) ;
(b)
on being required by a person referred to in subsection (1) to do so, fails without reasonable excuse to permit the person to inspect the premises; or
(c)
on being required by a person referred to in subsection (1) to produce any book or document in his possession or under his control and which that person reasonably requires to inspect for the purpose specified in subsection (1), fails without reasonable excuse to produce it to him and to permit him to take copies of it or of any entry in it,
B.L.R.O.1/ 1999
8
Money-Changing and Remittance Businesses
Offence during investigation
Liability of directors, partners etc.
Service of notice etc.
shall be guilty of an offence and shall be liable on conviction to a fine not exceeding $5,000.