Financial Intermediaries Act 1996

If, from a report under section 198 or from the record of an examination under this part, the registrar considers that an offence may have been committed by a person and that a prosecution ought to be instituted, the registrar may cause a prosecution to be instituted and prosecuted.

The registrar may, by written notice given before or after the institution of a prosecution under subsection (1), require an officer of the society the affairs of which were investigated (not being an officer who is or, in the registrar’s opinion, is likely to be, a defendant in the proceeding) to give all help for the prosecution or proposed prosecution that the officer is reasonably able to give.

If the officer fails to comply with the requirement stated in the notice, the Supreme Court may, on the registrar’s application, direct the officer to comply with the requirement.

If, from a report under section 198 or from the record of an examination under this part, the registrar considers that proceedings ought in the public interest to be brought by a society the affairs of which were investigated by the investigator, for the recovery of damages for fraud, misfeasance or other misconduct in connection with the society’s affairs, or for the recovery of the society’s property, the registrar may cause proceedings to be instituted accordingly in the society’s name.