(1) A Commission must prepare and keep a written statement of reasons in relation to each search warrant issued by the Commission or a member of the Commission.
(2) The statement of reasons must set out the following:
(a) the reasons the Commission or member suspects that each document or other thing to which the search warrant relates is connected with the matter the Commission is investigating;
(b) the reasons the Commission or member suspects that each document or other thing may be on or in particular premises;
(c) the reasons the Commission or member believes that, if a notice were given requiring the production of each document or other thing, it may be concealed, lost, mutilated or destroyed.