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Section 22

Investigation by inspector

of Trust Companies Act 1949

ActIn forceProvision 22 of 38
Section 22
(1)

The Minister may at any time appoint an inspector to investigate the affairs and management of any trust company and may prescribe the manner in, and the extent to, which the investigation shall be conducted.

(2)

It shall be the duty of all officers and servants of the company to produce for examination by the inspector all books, accounts, vouchers and other documents in their custody or control in relation to the matters under investigation, and to answer truly all inquiries addressed to them by the inspector respecting any matter affecting the affairs of the company.

(3)

The inspector shall make a report of his investigation to the

Minister of Finance.

(4)

All expenses of and incidental to any investigation shall be paid by the company, if the Minister of Finance so directs.

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