Singapore legislation

Clause 47

of Futures Trading Bill

Clause 47

Investigations by Authority

(1)

The Authority may conduct such investigations as it considers necessary to determine whether any person has contravened or is contravening any provisions of this Act.

(2)

For the purpose of subsection (1) the Authority may, in writing, require any person named therein to testify or to produce any document or other material relating to any matter under investigation, and such person shall forthwith comply with that requirement.

(3)

Nothing in this section shall compel the production by an advocate or solicitor of a document or other material containing a privileged communication made by or to him in that capacity or otherwise the taking of any such document or other material which is in his possession but if the advocate or solicitor refuses to produce the document or other material, he shall nevertheless be obliged to give the name and address of the person (if he knows them) to whom or by or on behalf of whom that communication was made.

(4)

The Authority may by regulations prescribe the practice and procedure to be followed in any investigation under this section.

(5)

Any person who fails without reasonable excuse to comply with any requirement under subsections (2) and (3) shall be guilty of an offence and shall be liable on conviction to a fine not exceeding $10,000.