Section 6
Information to Authority
of Payment and Settlement Systems (Oversight) Act
(1)
The Authority may, by notice in such form and manner as the
Authority may determine, require —
(a)
any participant;
(b)
any operator or any person acting on behalf of an operator; or
(c)
any settlement institution, of a payment system to provide to the Authority, within a reasonable period as specified in the notice, all such information relating to the payment system as may be required by the Authority.
(2)
Without prejudice to the generality of subsection (1), the
Authority may in a notice issued under that subsection require any person referred to in paragraph (a), (b) or (c) of subsection (1) to provide, whether in the form of a return to be provided on a periodic basis or otherwise —
Payment and Settlement Systems
(Oversight)
(a)
information relating to —
(i)
the operation of the payment system; and
(ii)
the pricing of, or other form of consideration for, the services offered by the payment system;
(b)
information relating to the participation or other involvement of that person in the payment system; and
(c)
such other information as the Authority may require for the purposes of this Act.
(3)
Subject to subsection (5), any person to whom a notice is issued under subsection (1) shall comply with the notice.
(4)
Any person who fails to comply with a notice issued under subsection (1) is guilty of an offence and liable on conviction to a fine not exceeding $150,000, imprisonment for a term not exceeding 2 years or both and, in the case of a continuing offence, to a further fine not exceeding
$15,000 for every day or part thereof during which the offence continues after conviction.
(5)
A person to whom a notice is issued under subsection (1) shall not be obliged to disclose any information where he is prohibited by any written law from disclosing such information.