Clause 32
Amendment of section 70
of Financial Advisers (Amendment) Bill
BillNot in forceProvision 32 of 42
Clause 32
Section 70 of the principal Act is amended —
(a)
by deleting subsection (1) and substituting the following subsection:“(1) The Authority may from time to time inspect, under conditions of secrecy, the books of —
(a)
a licensed financial adviser;
(b)
an exempt financial adviser in respect of its business of providing any financial advisory service; or
(c)
a representative.”;
(b)
by deleting the words “the licensee” in subsection (2)(a) (1st line) and (b) (1st line) and substituting in each case the words “a person referred to in subsection (1)”;
(c)
by deleting the words “of the licensee” in the 2nd line of subsection (2)(a); and
(d)
by deleting the words “of a licensee” in subsection (4).