Investment Services Act (Cap. 370), article 14

14. (1) The competent authority may, whenever it deems it necessary or expedient, appoint a n inspector or inspectors to investigate and report on the affairs of any persons or scheme referred to in article 13( 1)(a) to (d) and (1A). (2) An inspector appointed under sub-article (1) - (a) may also, if he thinks it necessary or expedient for the purposes of that investigation, investigate the affairs of any person or scheme menti oned in sub-article (1); (b) shall have and may exercise all the powers conferred on the competent authority by article 13, and any requirement made by him shall be deemed to be and have the same force and effect as a requirement of the competent authority; (c) may, and if so directed b y the competent authority shall, make interim reports and on the conclusion of his investigation shall make a final report to the said authority. (3) The competent authority shall have power to order that all expenses of, and incidental to, an investigation pursuant to th is article be paid by the persons or scheme concerned. Cap. 281. (4) For the purposes of this article inspectors may include an advocate, a person authorised to carry on the profession of accountant or auditor in terms of the Accountancy Profession Act , or a person considered by the co mpetent authority as possessing suitable expertise to e xercise such function. 44 CAP. 370.] INVESTMENT SERVICES Power to issue directives. Amended by: XVII. 2002.148; XX. 2007.67; X. 2011.27; XX. 2013.41; XXII. 2014.7; XXI. 2015.14; XXXI. 2017.52; XLIV .2018.6; LXXII.2021.16.