Clause 25

The Commissioner may periodically, or at his discretion, cause an inspection to be made by one or more of his officers of any finance company and its books, accounts and documents.

It shall be the duty of every director or other officer of a finance company to produce to any officer making an inspection under subsection (1) of this section all such books, accounts and other documents that are in his custody or control and to furnish the inspecting officer with such statements or information relating to the affairs of the finance company as the inspecting officer may require of him and within such reasonable time as the inspecting officer may specify.

For the purpose of subsection (1) of this section, the Commissioner may appoint any auditor, other than any auditor appointed by a company under the provisions of section 172 of the Companies Act, 1967 (Act of 1967), to carry out those inspections. The cost of such an inspection shall be paid by the finance company.

Any director or officer of the finance company who wilfully refuses to produce to any inspecting officer or to furnish such statements or information relating to the affairs of the finance company as the inspecting officer may require under subsection (2) of this section shall be guilty of an offence under this Act and shall be liable on conviction to a fine not exceeding two hundred and fifty dollars.