Financial Sector Regulation Act, 2017 (Act No. 9 of 2017)

Chapter 9 : Information Gathering, Supervisory On-Site Inspections and Investigations

Purchase

(1)

(a)	An investigator may, for the purposes of conducting an investigation, do any of the following:

(i)	By written notice, require any person who the investigator reasonably believes may be able to provide information relevant to the investigation to appear before the investigator, at a time and place specified in the notice, to be questioned by an investigator;

(ii)	by written notice, require any person who the investigator reasonably believes may be able to produce a document or item relevant to the investigation, to—

(aa)	produce the document or item to an investigator, at a time and place specified in the notice; or

(bb)	produce the document or item to an investigator, at a time and place specified in the notice, to be questioned by an investigator about the document or item;

(iii)

question a person who is complying with a notice in terms of subparagraph (i) or (ii)(bb);

(iv)	require a person being questioned as mentioned in subparagraph (i) or (ii)(bb) to make an oath or affirmation, and administer such an oath or affirmation;

(v)	examine, copy or make extracts from any document or item produced to an investigator as required in terms of this paragraph;

(vi)	take possession of, and retain, any document or item produced to an investigator as required in terms of this paragraph; and

(vii)

give a directive to a person present while the investigator is exercising powers in terms of this section, to facilitate the exercise of such powers.

(b)	An investigator who takes a document or item in terms of paragraph (a)(vi) must give the person producing it a written receipt.

(c)	Subject to paragraph (d), the investigator must ensure that a document or item taken in terms of paragraph (a)(vi) is returned to the person who produced it when—

(i)	retention of the document or item is no longer necessary to achieve the object of the investigation; or

(ii)	all proceedings arising out of the investigation have been finally disposed of.

(d)	A document or item need not be returned to the person who produced it if —

(i)	the document or item has been handed over to a designated authority; or

(ii)	it is not in the best interest of the public or any member or members of the public for the document or item to be returned.

(e)	A person otherwise entitled to possession of a document or item taken in terms of paragraph (a)(vi), or its authorised representative, may, during normal office hours and under the supervision of the financial sector regulator, examine, copy and make extracts from the document, or inspect the item.

(2)	A person being questioned in terms of this section is entitled to have a legal practitioner present at the questioning to assist the person.