Clause 28

by inserting, immediately after the word “bank” in subsections (1), (2) and (5), the words “or subsidiary”;

by deleting paragraphs (a) and (b) of subsection (1) and substituting the following paragraphs:“(a)produce its books to the Authority and afford the Authority access to them;

provide such information or facilities as may be required by the Authority to conduct the inspection or investigation; and

procure any person who is in possession of the books or information referred to in paragraph (a) or (b) to produce the books or provide the information to the Authority.”;

by inserting, immediately after subsection (3A), the following subsection:“(3B) The Authority may, in its discretion, waive the payment of all or any part of the remuneration and expenses referred to in subsection (3A).”; and

by inserting, immediately after subsection (5), the following subsection:“(5A) Where the offence under subsection (5) is proved to have been committed with the consent of, or to be attributable to any negligence on the part of, an officer of the bank or subsidiary, that officer shall be guilty of an offence and shall be liable on conviction to a fine not exceeding $50,000 or to imprisonment for a term not exceeding 2 years or to both and, in the case of a continuing offence, to a further fine not exceeding $5,000 for every day or part of a day during which the offence continues after conviction.”.