20Financial documents

20 Financial documents

(1)  The Director, by notice in writing, may require the manager of an authorised deposit-taking institution to –

(a) provide written information as to –

(i) whether or not there is, or was, any trust account in the name of a specified person; and

(ii) the address at which any document relating to that trust account is kept; and

(b) produce for inspection to an authorised person any document relating to that trust account; and

(c) allow an authorised person to inspect, and take copies of, or extracts from, any such document.

(2)  A manager of an authorised deposit-taking institution must comply with a requirement under subsection (1) .

Penalty:  Fine not exceeding 20 penalty units.

(3)  A requirement under subsection (1)(b) is taken to have been contravened if the document is not produced at the address given by the authorised deposit-taking institution under subsection (1)(a)(ii) as the address at which the document is kept.