Investment Services Act (Cap. 370), article 16

16. (1) Any officer, employee or agent of the competent authority, on producing, if required, evidence of his authority , may enter premises occupied by a pe rson on whom a notice has been served under article 13 or whose affairs are being investigated under article 14, for the purpose of obtaining and, or verifyin g there the information or documents required by that notice, or otherw ise for the purpose of the investiga tion, and of exercising any of the powers conferred by t he said articles. (2) Where any officer, employee or agent of the competent authority has reasonable cause t o believe that if such notice a s is referred to in sub-article (1) we re served it would not be comp lied with or that any documents to which it could relate would be removed, tampered with or destroyed, such person may, on producing, if required, evidence of his authority, enter any premises referred to in sub-article (1) for the purpose of obtaining the re any information or documents specified in the authority, being information or documents that could have been required under such notice as is referred t o in sub-article (1). (2A) Without prejudice to sub-articles (1) and (2), any office r, employee or agent of the competent authority, on producing, if required, evidence of his authority, may enter premises occupie d by a person on whom a notice has been served under article 13 and by any other person included in the supervision of compliance with the group capital test, where the competent authority is the group superv isor, in 48 CAP. 370.] INVESTMENT SERVICES order to conduct an inspection: Provided that the exercise of the right of entry under this sub-article in relation to any person included in the supervisi on of compliance with the group capital test where the competent auth ority is the group supervisor, shall be subject to the prior notifica tion of other competent authorities concerned. (3) For the purposes of any action taken under the provisions of this article, the competent authority may request the assistanc e of the Commissioner of Police, who may for such purpose exercise such powers as are vested in h im for the prevention of offences and the enforcement of law and order. Administrative penalties and other measures. Added by: XX. 2007.68. Amended by: L.N. 425 of 2007; X. 2011.28; XX. 2013.43; XXXI. 2017.53; V .2020.14.