(2) Any approved trustee who without reasonable excuse fails to comply with a notice in writing referred to in subsection (1) commits an offence and is liable on summary conviction to a fine at level 6.
32. Investigation
(1) If the Authority reasonably believes that—
- (a) a contravention of this Ordinance by any person has occurred in relation to a registered scheme;
- (b) circumstances may exist which may be prejudicial to the interests of scheme members; or
- (c) the trustee of a registered scheme is or has been in breach of his duties in relation to that registered scheme,
the Authority may by notice in writing served on the approved trustee of the registered scheme notify him that the Authority intends to conduct an investigation into the circumstances or other matters the subject of the notice, and forthwith shall conduct an investigation into the affairs of the registered scheme.
(2) The Authority may appoint one or more competent persons to be inspectors to carry out the investigation referred to in subsection (1) in accordance with rules made by the Authority under section 47.
(3) For the purpose of conducting an investigation, an inspector appointed under subsection (2) may—
- (a) subject to paragraph (d), if he reasonably believes that it is necessary to enter any premises or place or part thereof which may have some connection with a registered scheme he may, at any reasonable time, enter those premises or that place or part thereof and inspect and make copies of any documents or records found on those premises or in that place or part thereof and which he reasonably believes may relate to the financial or other affairs of the registered scheme;
- (b) require any trustee of a registered scheme or any other person who he reasonably believes has custody of any documents or records relating to the financial or other affairs of the registered scheme to produce to the inspector those documents and records;
- (c) require any trustee of a registered scheme or any other person who he reasonably believes may have knowledge of or information concerning the financial or other affairs of the registered scheme to—
- (i) give all reasonable assistance to the inspector in connection with the investigation;
