s 50 Responsibilities of officers, member, etc., of designated financial holding company
50.—(1) During the period when the Authority or statutory manager is in control of the relevant business of a designated financial holding company —(a) the General Division of the High Court may, on an application of the Authority or statutory manager, direct any person who has ceased to be or who is still a chief executive, director, member, executive officer, employee, agent, banker, auditor or office‑holder of, or trustee for, the designated financial holding company to pay, deliver, convey, surrender or transfer to the Authority or statutory manager, within such period as the General Division of the High Court may specify, any property or book of the designated financial holding company which is comprised in, forms part of or relates to the relevant business of the designated financial holding company, and which is in his possession or control; and[Act 40 of 2019 wef 30/06/2022] (b) any person who has ceased to be or who is still a chief executive, director, member, executive officer, employee, agent, banker, auditor or office‑holder of, or trustee for, the designated financial holding company shall give to the Authority or statutory manager such information as the Authority or statutory manager may require for the discharge of its or his duties or functions, or the exercise of its or his powers, in relation to the designated financial holding company, within such time and in such manner as may be specified by the Authority or statutory manager. (2) Any person who —(a) without reasonable excuse, fails to comply with subsection (1)(b); or (b) in purported compliance with subsection (1)(b), knowingly or recklessly furnishes any information or document that is false or misleading in a material particular, shall be guilty of an offence and shall be liable on conviction to a fine not exceeding $125,000 or to imprisonment for a term not exceeding 3 years or to both and, in the case of a continuing offence, to a further fine not exceeding $12,500 for every day or part thereof during which the offence continues after conviction.