Section 80 Investments and Securities Act 2025

Section 80 of the Investments and Securities Act 2025 is about Power of examiners in relation to other persons. It is under Part VII (Inspections and Investigations) of the Act. It provides as follows:

(1) In relation to the inspection and investigation of the affairs of a regulated entity an examiner may —
(a) summon any person, to provide information relating to the affairs of the regulated entity or to produce such document to the examiner or to appear at a time and place specified in the summons to be examined and produce such document;

(b) retain the document received as may be required for purposes of the inspection or any legal or regulatory proceedings;
(c) administer an oath or affirmation or otherwise examine any person referred to in paragraph (a); or

(d) on the authority of an order issued by the Tribunal —
(i) enter any premises and demand for the production of any document relating to the affairs of the regulated entity,
(ii) enter and search any premises for any document relating to the affairs of the regulated entity,

(iii) examine, make extracts from and copy any document relating to the affairs of the regulated entity or, remove such document temporarily for that purpose,
(iv) seize any document relating to the affairs of the regulated entity as the examiner may consider necessary, or
(v) retain any seized document for as long as it may be required for criminal or other proceedings:
Provided that an examiner may proceed without the order, if the person in control of any premises consents to the actions contemplated in this paragraph.

(2) An order provided in subsection (1)(b) shall be issued, on application by the Commission to the Tribunal.

(3) The order under subsection (2) may only be issued if it appears from information under oath that there is reason to believe that a document relating to the affairs of the regulated entity being inspected is kept at the premises or in the custody of the person concerned.

(4) A person whose document has been removed or retained, or from whom a document has been seized under subsection (1) or his authorised representative, may examine, copy such document and make extracts from it under the supervision of the examiner.