Section 41 — Provision of information to Authority

(1)The Authority may, by notice in the form and manner prescribed, require any of the following persons to provide to the Authority, within a reasonable period specified in the notice, such information relating to a payment system as the Authority may require:

(a)any participant of the payment system;

(b)any operator of the payment system, or any person acting on behalf of the operator;

(c)any settlement institution of the payment system.

(2)Without limiting subsection (1), the Authority may in a notice issued under that subsection require any person mentioned in paragraph (a), (b) or (c) of that subsection to provide, whether in the form of a return to be provided on a periodic basis or otherwise —

(a)information relating to —

(i)the operation of the payment system; and

(ii)the pricing of, or other form of consideration for, the services offered by the payment system;

(b)information relating to the participation or other involvement of that person in the payment system; and

(c)such other information as the Authority may require for the purposes of this Act.

(3)Subject to subsection (5), any person to whom a notice is issued under subsection (1) must comply with the notice.

(4)A person that contravenes subsection (3) shall be guilty of an offence and shall be liable on conviction to a fine not exceeding $100,000 or to imprisonment for a term not exceeding 2 years or to both and, in the case of a continuing offence, to a further fine not exceeding $10,000 for every day or part of a day during which the offence continues after conviction.

(5)A person to whom a notice is issued under subsection (1) is not obliged to disclose any information that the person is prohibited by any written law from disclosing.