s 59 Investigation into affairs of licensee
59. —(1) The Council may appoint one or more inspectors to investigate the affairs of a licensee or such aspects of the affairs of a licensee as are specified in the instrument of appointment. (2) An inspector appointed by the Council may, and if so directed by the Council must, make interim reports to the Council and on the conclusion of the investigation, the inspector must report the inspector’s opinion on or in relation to the affairs that the inspector has been appointed to investigate together with the facts upon which the inspector’s opinion is based to the Council. (3) A copy of the report must be forwarded by the Council to the registered office of the licensee. (4) The Council may, if it is of the opinion that it is necessary in the public interest to do so, cause the report to be printed and published. (5) In this Part — “affairs”, in relation to a licensee, includes — ( a ) the promotion, formation, membership, control, trading, dealings, business and property of the licensee; ( b ) the ownership of shares in, debentures of and interests made available by the licensee; ( c ) the ascertainment of the persons who are or have been financially interested in the success or failure or apparent success or failure of the licensee or are or have been able to control or materially to influence the policy of the licensee; and ( d ) the circumstances under which a person acquired or disposed of or became entitled to acquire or dispose of shares in, debentures of or interests made available by the licensee; “officer or agent”, in relation to a licensee, includes — ( a ) a director, banker, solicitor or an auditor of the licensee; ( b ) a person who at any time — (i) has been a person referred to in paragraph ( a ); or (ii) has been otherwise employed or appointed by the licensee; ( c ) a person who — (i) has in the person’s possession any property of the licensee; (ii) is indebted to the licensee; or (iii) is capable of giving information concerning the promotion, formation, trading, dealings, affairs or property of the licensee; and ( d ) where there are reasonable grounds for suspecting or believing that a person is a person referred to in paragraph ( c ), that person. [24G —(1) The Council may appoint one or more inspectors to investigate the affairs of a licensee or such aspects of the affairs of a licensee as are specified in the instrument of appointment. (2) An inspector appointed by the Council may, and if so directed by the Council must, make interim reports to the Council and on the conclusion of the investigation, the inspector must report the inspector’s opinion on or in relation to the affairs that the inspector has been appointed to investigate together with the facts upon which the inspector’s opinion is based to the Council. (3) A copy of the report must be forwarded by the Council to the registered office of the licensee. (4) The Council may, if it is of the opinion that it is necessary in the public interest to do so, cause the report to be printed and published. (5) In this Part — “affairs”, in relation to a licensee, includes — ( a ) the promotion, formation, membership, control, trading, dealings, business and property of the licensee; ( b ) the ownership of shares in, debentures of and interests made available by the licensee; ( c ) the ascertainment of the persons who are or have been financially interested in the success or failure or apparent success or failure of the licensee or are or have been able to control or materially to influence the policy of the licensee; and ( d ) the circumstances under which a person acquired or disposed of or became entitled to acquire or dispose of shares in, debentures of or interests made available by the licensee; “officer or agent”, in relation to a licensee, includes — ( a ) a director, banker, solicitor or an auditor of the licensee; ( b ) a person who at any time — (i) has been a person referred to in paragraph ( a ); or (ii) has been otherwise employed or appointed by the licensee; ( c ) a person who — (i) has in the person’s possession any property of the licensee; (ii) is indebted to the licensee; or (iii) is capable of giving information concerning the promotion, formation, trading, dealings, affairs or property of the licensee; and ( d ) where there are reasonable grounds for suspecting or believing that a person is a person referred to in paragraph ( c ), that person. [24G