Section 35Part 5 — Operations
Assistance in obtaining information
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Where, in accordance with section 50, the Authority is satisfied that assistance should be provided in response to a request by an overseas regulatory authority, and that such assistance cannot be provided satisfactorily by means of its powers in section 34(9), the Authority may —
authorise a competent person to exercise any of its co-operative functions; and
seek the assistance of the Commissioner of Police in the exercise of those functions.
No such assistance shall be sought or authority granted under subsection (1) except for the purpose of investigating —
the affairs, or any aspect of the affairs, of a person specified by the Authority; or
a subject matter specified by the Authority, being a person who, or a subject matter which, is the subject of the inquiries being carried out by or on behalf of an overseas regulatory authority.
No person shall be bound to comply with a requirement imposed by a person exercising powers by virtue of an authority granted under this section unless that person has, if required, produced evidence of that person's authority.
Where the Authority seeks assistance or grants an authority under subsection (1), the assistance or authority shall be provided or executed in such manner as the Authority may determine; and where the Authority grants such an authority to a person, that person shall make a report to the Authority in such manner as the Authority may require on the exercise of that authority and the results of exercising it.
The Authority, any person authorised under subsection (1) or the commissioner of Police may apply to a Justice of the Peace, a Magistrate or a Judge of the Grand Court for a search warrant in pursuance of an investigation under subsection (2).
Cross References
- Section 50 of Monetary Authority Actexternal
Referenced in subsection (1)
- Section 34 of Monetary Authority Actexternal
Referenced in subsection (1) regarding section 34(9)