Inspection and investigation of affairs of insurance intermediary
30.—(1)  The Authority may, for the purpose of performing its functions under this Act —
(a)inspect the books, accounts, records and other documents of any insurance intermediary;
(b)institute an investigation into the whole or any part of the business carried on in Singapore by the insurance intermediary; and
(c)enter any premises of the insurance intermediary at all reasonable times.
(2)  In making an inspection or investigation under this section, the Authority may, by notice in writing, require —
(a)the insurance intermediary, or any person having the custody thereof on behalf of the insurance intermediary;
(b)any person who is or has at any time been or acted as a director, an auditor, an officer or a servant of the insurance intermediary; or
(c)any past or present member of the insurance intermediary,
to produce for its inspection, and allow it to copy the whole or any part of any book, account, record or other document of the insurance intermediary, whether kept in Singapore or elsewhere.
(3)  Any person who contravenes or fails to comply with subsection (2) to produce any book, account, record or other document in his custody shall be guilty of an offence and shall be liable on conviction to a fine not exceeding $10,000 and, in the case of a continuing offence, to a further fine of $1,000 for every day or part thereof during which the offence continues after conviction.