Section 8
Powers of Commission
The Commission shall have the power to do all things necessary or convenient to be done for, or in connection with the performance of its functions under this Act.
(2)
Without prejudice to the generality of subsection (1), the powers of the Commission shall include the power to—
(a)
regulate all matters relating to consumer credit;
(b)
regulate and supervise persons carrying on credit business and credit service business regulated by the Commission;
(c)
impose prescribed fees in the performance of its functions or exercise of its powers;
(d)
examine the business and affairs of a credit provider or credit service provider regulated by the Commission;
(e)
impose monetary penalty under section 106;
(f)
cause an investigation to be made and exercise all the powers of investigation on matters relating to credit business or credit service business regulated by the Commission;
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(g)
specify standards or guidelines under section 123
on matters relating to consumer credit regulated by the Commission;
(h)
utilize all the movable and immovable property of the Commission in such manner as the Commission may think expedient, including the raising of funds by mortgaging such property;
(i)
establish and authorise a committee consisting of members as may be determined by the Commission for the purpose of performing any of its functions or exercising any of its powers under this Act;
(j)
appoint and remunerate such agents, experts or consultants as it deems fit to assist the Commission in the performance of its functions or exercise of its powers;
(k)
pay remuneration, allowances and other expenses of the members of the Board and Board Committees;
(l)
provide grants, loans, financing and advances to any person on such terms and conditions as determined by the Board; and
(m)
do anything incidental to any of its functions and powers.