54. Powers of investigating officer

An investigating officer appointed under section 53 shall have all the powers, functions and duties conferred on an investigating officer under this Part, and where such investigating officer is not an officer or employee of the Bank, he shall, in relation to such powers, functions and duties—

An investigating officer shall be subject to the direction and control of the Governor, or of such other officer of the Bank as may be authorized by the Governor to act on his behalf, and of any investigating officer superior to him in rank, and shall exercise his powers, perform his functions, and discharge his duties referred to in subsection (1) in compliance with such directions, instructions, conditions, restrictions or limitations as the Governor, or an officer of the Bank authorized to act on his behalf, or an investigating officer superior in rank, may specify orally or in writing, either generally or in any particular case or circumstance.

The Governor, or any officer of the Bank authorized by the

An investigating officer conducting any examination of any person under this Part shall have the power to administer an oath or affirmation to the person who is being examined.