Banking Act 1970 · 2020 Revised Edition · Part 3 · Licensing of Banks
6. Examination of persons suspected of transacting banking business and access to premises
Feedback & supportWhenever the Authority has reason to believe that a person is transacting banking business without a licence, the Authority, at all times —
has full and free access to the premises at which that person is suspected of transacting banking business without a licence or at which that person may have books; and
has the power to examine, copy or take possession of the books of that person in order to ascertain whether or not that person has violated, or is violating, any of the provisions of this Act.
Any refusal to allow full and free access to such premises or to submit such books is prima facie evidence of the fact of operation without a licence.
licence
“licence” means —(a)a bank licence granted or held under section 7 or 79; or(b)a merchant bank licence granted under section 55S or treated as having been granted under section 64 of the Banking (Amendment) Act 2020;