51Procedure with respect to holding of inquiry

51 Procedure with respect to holding of inquiry

51 Procedure with respect to holding of inquiry

(1) For the purposes of an inquiry under this Division, the Supervisor may, by notice in the prescribed form given in the prescribed manner, require a specified person:

(a) to produce to the Supervisor such records relating to a matter to which the Supervisor’s inquiry relates as are in the custody or under the control of that person,

(b) to give to the Supervisor all reasonable assistance in connection with the inquiry, and

(c) to attend before the Supervisor for examination on oath,

and may administer an oath to that person.

(2) Where records are produced to the Supervisor under this section, the Supervisor may take possession of those records for such period as the Supervisor thinks necessary for the purposes of the inquiry, and during that period the Supervisor shall permit a person who would be entitled to inspect those records if they were not in the possession of the Supervisor to inspect at all reasonable times such of those records as that person would be so entitled to inspect.

(3) A specified person shall not:

(a) refuse or fail to comply with a requirement of the Supervisor under subsection (1) to the extent to which the person is able to comply with it,

(b) in purported compliance with such a requirement provide information which is to the person’s knowledge false or misleading as to a material particular, or

(c) when appearing before the Supervisor for examination pursuant to such a requirement:

(i) make a statement which is to the person’s knowledge false or misleading as to a material particular, or

(ii) refuse or fail to take an oath.

Maximum penalty: 10 penalty units.

(4) An Australian legal practitioner acting for a specified person may:

(a) attend an examination of that person, and

(b) with the permission of the Supervisor:

(i) address the Supervisor, and

(ii) examine that person,

in relation to matters in respect of which the Supervisor has questioned that person.