Power of Secretary to require production of securities, documents or information

In force

(1)

The Secretary may at any time require a person to produce and deliver any securities, documents or information necessary to support a claim made against the Fund under this Part or necessary for the purpose of⎯

(a)

exercising the Secretary's rights or powers against a licensee; or

(b)

enabling criminal proceedings to be taken against a person in respect of a defalcation.

(2)

If a person fails to comply with a requirement of the Secretary under subsection (1), the Secretary may disallow the relevant claim.

This Act’s bill:Explanatory memorandum Second reading speech

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147 Power of Secretary to require production of securities, documents or information