48.—(1) The Authority may from time to time inspect, under conditions of secrecy, the books of a licensed credit bureau.
(2) For the purposes of an inspection under this section —
(a)
a licensed credit bureau in possession of its books must produce the books to the Authority and give such information or facilities as the Authority may require;
(b)
a licensed credit bureau must procure any person that is in possession of its books to produce the books to the Authority and give such information or facilities as the Authority may require; and
(c)
the Authority may —
(i)
make copies of, or take possession of, any such books;
(ii)
use, or permit the use of, any such books for the purposes of any proceedings under this Act; and
(iii)
subject to subsection (4), retain possession of any such books for so long as is necessary —
(A)
for the purposes of exercising a power conferred by this section;
(B)
for a decision to be made on whether or not proceedings should be commenced under this Act in relation to such books; or
(C)
for such proceedings to be commenced and carried on.
(3) A person is not entitled, as against the Authority, to claim a lien on any of the books, but such a lien is not otherwise prejudiced.
(4) While the books are in the possession of the Authority, the Authority —
(a)
must permit another person to inspect at all reasonable times such (if any) of the books as the other person would be entitled to inspect if they were not in the possession of the Authority; and
(b)
may permit another person to inspect any of the books.
(5) The Authority may require a person that produced any book to the Authority to explain, to the best of the person’s knowledge and belief, any matter about the compilation of the book or to which the book relates.
(6) Any person that fails, without reasonable excuse, to comply with subsection (2)(a) or (b) or a requirement of the Authority under subsection (5) shall be guilty of an offence and shall be liable on conviction —
(a)
in the case of an individual, to a fine not exceeding $50,000 or to imprisonment for a term not exceeding 2 years or to both and, in the case of a continuing offence, to a further fine not exceeding $5,000 for every day or part of a day during which the offence continues after conviction; or
(b)
in any other case, to a fine not exceeding $100,000 and, in the case of a continuing offence, to a further fine not exceeding $10,000 for every day or part of a day during which the offence continues after conviction.