Section 44
of Securities Markets Order, 2013
Section 44
(1)
The Authority may appoint any officer or any other person to exercise on its behalf, all or any of the investigation powers and such power to investigate shall specify the affairs, or any aspects of the affairs, of the person to be investigated in the investigation notice.
(2)
No person shall be bound to comply with any requirement imposed by a person exercising powers by virtue of an investigation notice granted under this section unless the investigator has, if required to do so, produced evidence of his appointment by the Authority.
(3)
A person shall not, by virtue of an investigation notice, be required to disclose any information or produce any documents in respect of which he owes an obligation of confidence unless -
(a)
he is the person under investigation or a related company;
(b)
the person to whom the obligation of confidence is owed is the person under investigation or a related company;
(c)
the person to whom the obligation of confidence is owed consents to the disclosure or production; or
(d)
the Authority has specifically required the information or documents.
(4)
Where the Authority appoints a person other than one of his officers to exercise any investigation powers, that person shall make a report to the
Authority on the exercise of those powers and the results of exercising them.
Powers of entry.