52. Substitution of section 126

The principal Act is amended by substituting for section 126

the following section:

126.

“Examination by Commission

The Commission may, from time to time, examine, without giving any prior notice, the books or other documents, accounts and transactions of—

any person licensed, registered, approved, recognized or authorized under any securities laws;

any person performing any outsourced functions for persons referred to in paragraph (a); or

a branch or subsidiary of a licensed person.

Any person referred to in subsection (1) and any person acting on its behalf shall provide all assistance and produce any documents, records or matter, as may be required by the Commission, to enable the Commission to carry out its functions.

For the purposes of paragraphs (1)(a) and (b), “person”