(1) In this section
—
authorised person means the Commissioner or a
person authorised in writing by the Commissioner to exercise the powers
conferred by this section on an authorised person;
credit provider includes a person who was at any
time a credit provider to whom a provision of a cognate Act applied as a
credit provider.
(2) For the purpose of
ascertaining whether the provisions of any of the cognate Acts are being or
have been complied with by a credit provider, an authorised person may, by
instrument in writing, require the credit provider to produce specified
records, or records of a specified class or description, to a specified
authorised person at a specified place at a specified time or within a
specified period.
(3) Where an
authorised person requires production under subsection (2) of a record that is
not in writing, or is not written in the English language, or is not
decipherable on sight, the requirement to produce the record shall be deemed
to be a requirement to produce, in addition to the record if it is in writing,
or instead of the record if it is not in writing, a statement, written in the
English language and decipherable on sight, containing the whole of the
information in the record.
(4) A person shall not
refuse or fail to produce any record or statement in accordance with a
requirement made of the person under subsection (2).
Penalty: $2 000.
(5) An authorised
person may inspect and take notes, copies and extracts of or from any record
or statement produced pursuant to this section.
(6) Nothing in this
section limits the operation of section 54 and nothing in section 54(1) limits
the operation of this section.
[Section 55 amended: No. 47 of 1989 s. 9.]