Singapore legislation
Section 60
Section 60
Procedure and powers of inspectors
(1)
If an inspector appointed to investigate the affairs of a licensee which is a company thinks it necessary for the purposes of the investigation to investigate also the affairs of any other company which is or has at any relevant time been deemed to be or have been related to the licensee by virtue of section 6 of the Companies Act 1967, the inspector has power to do so.
(2)
The inspector must report to the Council on the affairs of the other company so far as the inspector thinks the results of the investigation of the other company are relevant to the investigation of the affairs of the licensee.
(3)
The licensee and every officer or agent of the licensee must, if required by an inspector appointed under this Part, produce to the inspector all books and documents in its, his or her custody or power and must give to the inspector all assistance in connection with the investigation which it, he or she is reasonably able to give.
(4)
An inspector may, by written notice, require the licensee and any officer or agent of the licensee to appear for examination on oath or affirmation (which the inspector is authorised to administer) in relation to the business of the licensee.
(5)
The notice under subsection (4) may require the production of all books and documents in the custody or under the control of a licensee or any officer or agent of the licensee.
(6)
An inspector who pursuant to this section requires the production of all books and documents in the custody or power or under the control of an officer or agent of any licensee —
may take possession of all such books and documents;
may retain all such books and documents for such time as the inspector considers to be necessary for the purpose of the investigation; and
must permit the licensee to have access at all reasonable times to all such books and documents so long as they remain in the inspector’s possession.
(7)
A licensee or any officer or agent of the licensee who fails to comply with a requirement of any notice issued under subsection (4) or fails or refuses to answer any question which is put to it, him or her by an inspector with respect to the affairs of the licensee shall be guilty of an offence and shall be liable on conviction to a fine not exceeding $1,000.
(8)
A person who is or has formerly been an officer or agent of a licensee is not entitled to refuse to answer any question which is relevant or material to the investigation on the ground that the person’s answer might tend to incriminate the person.
(9)
If a person referred to in subsection (8) claims that the answer to any question might incriminate the person and, but for that subsection, the person would have been entitled to refuse to answer the question, the answer to the question must not be used in any subsequent criminal proceedings except in the case of a charge against the person for making a false statement.
(10)
Subject to subsection (8), a person is entitled to refuse to answer a question on the ground that the answer might tend to incriminate the person.
(11)
An inspector may cause notes of any examination under this Part to be recorded and reduced to writing, to be read to or by and signed by the person examined.
(12)
Any such signed notes may, except in the case of any answer which that person would not have been required to give but for subsection (8), thereafter be used in evidence in any legal proceedings against that person.[24H