sec.53DPower to appoint special investigator

### sec.53D Power to appoint special investigator The commissioner may, by written instrument, appoint an appropriately qualified person as a special investigator for 1 or more trust accounts. The function of a special investigator is to investigate a person’s compliance with the requirements of this Act relating to trust accounts. In carrying out the special investigator’s functions, the investigator may do any of the following— inspect trust records or another record relating to a trust account; prepare or construct incomplete trust records for a trust account; perform accounting tasks to establish the state of a trust account; report to the commissioner about the state of a trust account or a trustee’s compliance with this Act; require a financial institution or trustee to give copies of, or access to, documents relevant to trust accounts or money deposited into trust accounts; request a person to give copies of, or access to, documents relevant to any person’s compliance with this chapter; carry out another function, or exercise another power, prescribed by regulation. A special investigator holds office subject to any conditions stated in the investigator’s instrument of appointment, including any limitations on the exercise of a power. If a special investigator is appointed for a trust account, the commissioner must give the trustee for the account a notice stating the terms of the appointment and the investigator’s functions and powers. In exercising a power in relation to a person in the person’s presence, a special investigator must produce the investigator’s instrument of appointment for the person’s inspection before exercising the power. If an investigation by a special investigator establishes that a person has contravened a provision of this Act, the commissioner may recover the cost of the investigation, as a debt, from the person. The office of a person appointed as a special investigator ends if any of the following happens— the term of office stated in a condition of office ends; under another condition of office, the office ends; the investigator’s resignation under subsection (9) takes effect. A special investigator may resign by signed notice given to the commissioner. s 53D ins 2020 No. 24 s 63 (sec.53D-ssec.1) The commissioner may, by written instrument, appoint an appropriately qualified person as a special investigator for 1 or more trust accounts. (sec.53D-ssec.2) The function of a special investigator is to investigate a person’s compliance with the requirements of this Act relating to trust accounts. (sec.53D-ssec.3) In carrying out the special investigator’s functions, the investigator may do any of the following— inspect trust records or another record relating to a trust account; prepare or construct incomplete trust records for a trust account; perform accounting tasks to establish the state of a trust account; report to the commissioner about the state of a trust account or a trustee’s compliance with this Act; require a financial institution or trustee to give copies of, or access to, documents relevant to trust accounts or money deposited into trust accounts; request a person to give copies of, or access to, documents relevant to any person’s compliance with this chapter; carry out another function, or exercise another power, prescribed by regulation. (sec.53D-ssec.4) A special investigator holds office subject to any conditions stated in the investigator’s instrument of appointment, including any limitations on the exercise of a power. (sec.53D-ssec.5) If a special investigator is appointed for a trust account, the commissioner must give the trustee for the account a notice stating the terms of the appointment and the investigator’s functions and powers. (sec.53D-ssec.6) In exercising a power in relation to a person in the person’s presence, a special investigator must produce the investigator’s instrument of appointment for the person’s inspection before exercising the power. (sec.53D-ssec.7) If an investigation by a special investigator establishes that a person has contravened a provision of this Act, the commissioner may recover the cost of the investigation, as a debt, from the person. (sec.53D-ssec.8) The office of a person appointed as a special investigator ends if any of the following happens— the term of office stated in a condition of office ends; under another condition of office, the office ends; the investigator’s resignation under subsection (9) takes effect. (sec.53D-ssec.9) A special investigator may resign by signed notice given to the commissioner. - (a) inspect trust records or another record relating to a trust account; - (b) prepare or construct incomplete trust records for a trust account; - (c) perform accounting tasks to establish the state of a trust account; - (d) report to the commissioner about the state of a trust account or a trustee’s compliance with this Act; - (e) require a financial institution or trustee to give copies of, or access to, documents relevant to trust accounts or money deposited into trust accounts; - (f) request a person to give copies of, or access to, documents relevant to any person’s compliance with this chapter; - (g) carry out another function, or exercise another power, prescribed by regulation. - (a) the term of office stated in a condition of office ends; - (b) under another condition of office, the office ends; - (c) the investigator’s resignation under subsection (9) takes effect.