Section 75 Investments and Securities Act 2025

Section 75 of the Investments and Securities Act 2025 is about Special examination. It is under Part VII (Inspections and Investigations) of the Act. It provides as follows:

(1) The Commission shall order a special examination or investigation of the records, books and affairs of a regulated entity where it is satisfied that —
(a) it is in the public interest to do so;
(b) the regulated entity has been carrying on its business in a manner detrimental to the interest of its clients, beneficiaries and creditors;

(c) the regulated entity has insufficient assets to cover its liabilities to the clients, beneficiaries and creditors;
(d) the regulated entity has been contravening the provisions of this Act or the rules and regulations made under it; or

(e) an application is made for it by —
(i) a director or shareholder of the regulated entity, or
(ii) a client, beneficiary or creditor of the regulated entity:
Provided that in the case of paragraph (e), the Commission may not order a
special examination or investigation of the records, books and affairs of a regulated entity if the Commission is satisfied that it is not necessary to do so.

(2) For the purpose of subsection (1), the Commission may appoint one or more qualified persons other than or in addition to its staff to conduct special examination or investigation, under conditions of confidentiality, of the records, books and affairs of the regulated entity.