Singapore legislation
Clause 51
Clause 51
Powers of auditor appointed by Authority
(1)
An auditor appointed by the Authority under section 50(1) may, for the purpose of carrying out an examination and audit —
examine, on oath or affirmation, any officer, employee or agent of the licensed financial adviser, or any other auditor for the licensed financial adviser appointed under this Act; (b)require any officer, employee or agent of the licensed financial adviser, or any other auditor for the licensed financial adviser appointed under this Act, to produce any of the books held by or on behalf of the licensed financial adviser relating to its business, or to make copies of or take extracts from, or retain possession of, such books for such period as may be necessary to enable them to be inspected;
employ such persons as he considers necessary to assist him in carrying out the examination and audit; and
authorise in writing any person employed by him to do, in relation to the examination and audit, any act or thing that he could do as an auditor under this subsection, other than the examination of a person on oath or affirmation.
(2)
Any person who, without reasonable excuse, refuses or fails to answer any question put to him, or contravenes any request made to him, by an auditor appointed under section 50(1) or a person authorised under subsection (1)(d) shall be guilty of an offence and shall be liable on conviction to a fine not exceeding $25,000 or to imprisonment for a term not exceeding 12 months or to both.