Banking and Financial Institutions Act 1989 · s 71

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71. (1) For the purposes of an examination under section 69 or 70, the licensed institution under examination and its directors and officers shall afford any person carrying out the examination access to all its books or other documents and accounts, including documents of title to its assets, all securities held by it in respect of its customers' transactions, all its cash, and to all such documents, information and facilities as may be required by that person for the purpose of the examination, and shall produce to that person all such books or other documents, accounts, titles, securities or cash, and give all such information, as he may require:

Provided that, so far as is consistent with the conduct of the examination, such books or documents, accounts, titles, securities and cash shall not be required to be produced at such times or at such places as may interfere with the proper conduct of the normal daily business of that institution or office.
(2) Notwithstanding anything in subsection (1), any person authorised by the Bank in writing for this purpose may take possession of any books or other documents, accounts, titles, securities or cash to which he has access under subsection (1) where in his opinion—
(a) the inspection of them, the copying of them, or the making of extracts from them, cannot reasonably be undertaken without taking possession of them;
(b) they may be interfered with or destroyed unless he takes possession of them; or
(c) they may be needed as evidence in any legal proceedings, whether civil or criminal, which may be instituted under or in connection with this Act, the Ordinance or any other written law.
(3) No licensed institution, and no director or officer of the licensed institution, shall—
(a) fail to—
(i) allow access to;
(ii) give possession of; or
(iii) produce, its books or other documents, accounts, titles, securities or cash; or
(b) fail to give information or facilities, in accordance with subsections (1) and (2).

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s 71

(1)

For the purposes of an examination under section 69 or 70, the licensed institution under examination and its directors and officers shall afford any person carrying out the examination access to all its books or other documents and accounts, including documents of title to its assets, all securities held by it in respect of its customers' transactions, all its cash, and to all such documents, information and facilities as may be required by that person for the purpose of the examination, and shall produce to that person all such books or other documents, accounts, titles, securities or cash, and give all such information, as he may require:

(2)

Notwithstanding anything in subsection (1), any person authorised by the Bank in writing for this purpose may take possession of any books or other documents, accounts, titles, securities or cash to which he has access under subsection (1) where in his opinion—

(a)

the inspection of them, the copying of them, or the making of extracts from them, cannot reasonably be undertaken without taking possession of them;

(b)

they may be interfered with or destroyed unless he takes possession of them; or

(c)

they may be needed as evidence in any legal proceedings, whether civil or criminal, which may be instituted under or in connection with this Act, the Ordinance or any other written law.

(3)

No licensed institution, and no director or officer of the licensed institution, shall—

(a)

fail to—

(i)

allow access to;

(ii)

give possession of; or

(iii)

produce, its books or other documents, accounts, titles, securities or cash; or

(b)

fail to give information or facilities, in accordance with subsections (1) and (2).