Financial Intermediaries Act 1996
sec.195Failure of officer to comply with requirement of investigator
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sec.195 Failure of officer to comply with requirement of investigator
This section applies if an officer of a society fails to comply with a requirement of an investigator appointed to investigate the society’s affairs. The investigator may, if the investigator considers that the officer did not have a lawful excuse for the failure, certify the failure by signed writing to the Supreme Court. If an investigator gives a certificate under subsection (2) , the Supreme Court may inquire into the case and— order the officer to comply with the requirements of the investigator within a period fixed by the court; or if the court is satisfied that the officer failed without lawful excuse to comply with the requirement of the investigator—punish the officer in the same way as if the officer had been guilty of contempt of the court and may also make an order under paragraph (a) . (sec.195-ssec.1) This section applies if an officer of a society fails to comply with a requirement of an investigator appointed to investigate the society’s affairs. (sec.195-ssec.2) The investigator may, if the investigator considers that the officer did not have a lawful excuse for the failure, certify the failure by signed writing to the Supreme Court. (sec.195-ssec.3) If an investigator gives a certificate under subsection (2) , the Supreme Court may inquire into the case and— order the officer to comply with the requirements of the investigator within a period fixed by the court; or if the court is satisfied that the officer failed without lawful excuse to comply with the requirement of the investigator—punish the officer in the same way as if the officer had been guilty of contempt of the court and may also make an order under paragraph (a) .
- (a) order the officer to comply with the requirements of the investigator within a period fixed by the court; or
- (b) if the court is satisfied that the officer failed without lawful excuse to comply with the requirement of the investigator—punish the officer in the same way as if the officer had been guilty of contempt of the court and may also make an order under paragraph (a) .