1964_SECURITIES_ORDINANCE — Page 82

1989 Ed.]

Securities

[CAP. 333

81

(4) Where documents are produced to an inspector under this section the inspector may take possession of them for such period as he considers necessary for the purposes of his investigation, and during that period he shall permit a person who would be entitled to inspect any one or more of those documents if they were not in the possession of the inspector to inspect at all reasonable times such of them as that person would be so entitled to inspect.

(5) A prescribed person-

(a) shall comply with a requirement of an inspector under subsec-

tion (3);

(b) shall not knowingly furnish to the inspector, whether on examination in pursuance of such requirement or otherwise, information that is false or misleading in a material particular;

or

(c) when appearing before an inspector for examination in pursuance of such a requirement, shall take an oath in accordance with the requirement.

(6) Any person who, without reasonable excuse, contravenes any of the provisions of subsection (5) shall be guilty of an offence and shall be liable on conviction to a fine of $5,000.

(7) A solicitor or counsel acting for a prescribed person-

(a) may attend an examination of that person; and

(b) may, to the extent that the inspector permits-

(i) address the inspector; and

(ii) examine that person,

in relation to matters in respect of which the inspector has questioned that person.

(8) A prescribed person is not excused from answering a question put to him by an inspector on the ground that the answer might tend to incriminate him but, where that person claims, before answering the question, that the answer might tend to incriminate him, neither the question nor the answer is admissible in evidence against him in criminal proceedings other than proceedings under subsection (6) or in relation to a charge of perjury in respect of the answer.

(9) A person who complies with the requirement of an inspector under subsection (3) shall not incur any liability to any person by reason only of that compliance.

(10) A person required to attend for examination under this section is entitled to such allowances and expenses as may be prescribed by regulations.

(11) Where a prescribed person fails to comply with a requirement of an inspector under subsection (3), the inspector may, unless that person proves that he had a lawful authority for his failure, certify the failure by writing under his hand to the Court.

(12) Where an inspector gives a certificate under subsection (11), the Court may inquire into the case and