Australian Capital Territory Repealed Acts Australian Capital Territory Repealed ActsThis legislation has been repealed.
(1) The commission may, by written notice to a financial institution referred to in section 119, require the financial institution to give an inspector, on the day and during the hours, specified in the notice access to a statement of an account referred to in that section and the other particulars relating to the account that are specified in the notice.
(2) The commission may, by written notice to a financial institution referred to in section 119, require the financial institution, within 30 days after receiving the notice, to give an inspector specified in the notice, a copy of a statement of an account referred to in that section.
(3) A financial institution shall not, without reasonable excuse, refuse or fail to comply with a requirement made under subsection (1) or (2).
Maximum penalty: 50 penalty units.
(4) The hours specified in a notice to a financial institution under subsection (1) shall be during the normal business hours of the financial institution.
(5) If, under subsection (1), an inspector may inspect a statement of an account, the inspector may also make a copy of, or take extracts from, the statement.