(1)The Commission may give directions in writing to

(a) a central securities depository,

(b) a nominee of a central securities depository,

(c) a central securities depository agent,

(d) a user,

(e) a person who is or has been an officer or employee of a central securities depository, or

(g) an agent, advocate, solicitor, auditor, or other person acting in any capacity for or on behalf of a central depository or its nominee company, or a central securities depository agent, or a user to produce to the Commission records or accounts related to the business or affairs of a depository agent, or user or records or accounts required to be kept by a central securities depository under this Act.

(2) A reference in subsection (1) to a business carried on by a person includes a reference to a business carried on by a person as trustee.

(3) Where the Commission requires the production of a record or account and a person has a lien on the record or account, the Commission

(a) may take possession of the records or accounts and make copies or extracts from it,

(b) may require the other person or any other person who is a party to the compilation of the records or accounts to make a statement providing an explanation of the records or accounts,

(c) may retain possession of the records or accounts for a period that the Commission may consider necessary; and

(d) shall permit the other person, upon giving reasonable notice and description of the record or accounts, to have access to the records or accounts which are in the possession of the Commission.

(4) Where the Commission requires the production of a record or account and the records or accounts are not produced, the Commission may require a person

(a) to state where the records or accounts may be found, and

(b) to identify the last person who had custody of the records or accounts and where that person may be found.

(5) A power conferred by this section to require a person to do an act applies to an officer of a body corporate.

(6) A person who fails to comply with a requirement made under this section commits an offence and is liable on summary conviction to a fine of five hundred penalty units, and in the case of a continuing offence is liable to a penalty of ten penalty units for each day that the offence continues.