Powers to require production of records
55 Powers to require production of records
In this section —
authorised person means the Commissioner or a person authorised in writing by the Commissioner to exercise the powers conferred by this section on an authorised person;
credit provider includes a person who was at any time a credit provider to whom a provision of a cognate Act applied as a credit provider.
For the purpose of ascertaining whether the provisions of any of the cognate Acts are being or have been complied with by a credit provider, an authorised person may, by instrument in writing, require the credit provider to produce specified records, or records of a specified class or description, to a specified authorised person at a specified place at a specified time or within a specified period.
Where an authorised person requires production under subsection (2) of a record that is not in writing, or is not written in the English language, or is not decipherable on sight, the requirement to produce the record shall be deemed to be a requirement to produce, in addition to the record if it is in writing, or instead of the record if it is not in writing, a statement, written in the English language and decipherable on sight, containing the whole of the information in the record.
A person shall not refuse or fail to produce any record or statement in accordance with a requirement made of the person under subsection (2).
Penalty: $2 000.
An authorised person may inspect and take notes, copies and extracts of or from any record or statement produced pursuant to this section.
Nothing in this section limits the operation of section 54 and nothing in section 54(1) limits the operation of this section.
[Section 55 amended: No. 47 of 1989 s. 9.]
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