(1) The Commission may by notice in writing, where it considers that there is sufficient cause to do so, give directives to

(a) a licensee or former licensee;

(b) a member of the governing body of a securities exchange;

(d) a person who is controlled by any other person referred to in paragraph (a), (b) or (c) or jointly controlled by two or more persons at least one of whom is a person referred to in these paragraphs;

(e) a person who is or has been an officer or an employee of, or an agent, lawyer, auditor or other person acting in any capacity for or on behalf of, a person referred to in paragraph (a), (b), (c), or (d);

(f) any other person who is or has been a party to a dealing in securities; or

(g) any other person to produce to the Commission or a person authorized by the Commission the books, subject to subsection (2), specified in the directive.

(2) For the purposes of subsection (1), books in respect of which a request to produce may be made relate to

(a) the business or affairs of an issuer, a securities exchange, a licensee or past licensee;

(b) a dealing in securities;

(d) advice concerning securities or file issuing or publication of a report or analysis concerning securities;

(e) the character or financial position of, or any business carried on by, a person referred to in paragraph (c), (d), (e), or (f) of subsection (I);

(f) an audit of, or any report of an auditor concerning a dealing in securities or the accounts or records of a broker-dealer or of a fund manager; or

(g) information relating to the business of a person or to file business administered or managed by that person for that person’s clients.

(3) A directive to produce shall not be made to a person under subsection (1) unless the Commission has reasonable cause to believe that the person has custody or control of books which relate to a matter specified under subsection (2).

(4) Books shall not be directed to be produced by a person under subsection (1) (g) at & time or place that may unduly interfere with the proper conduct of the normal daily business of that person.

(5) The Commission may, in writing authorize a person possessed of a qualification that the Commission considers adequate, to exercise the power to request for the production of books conferred on the Commission under this section.

(6) A reference in subsection (1) to dealing in securities or to a business carried on by a person, includes a reference to a dealing in securities by a person as a trustee.

(7) An authorization from the Commission to a person under subsection (5), may be of general application or may be limited to making requirements of a specific nature.

(8) Where the Commission, or a person authorized by the Commission, requires die production of books under this section and a person has a lien on the books, the production of the books shall not prejudice the lien.

(9) An authorized person shall where required to do so, produce evidence of authorization.

(10) An action shall not lie against a person for complying with a directive or requirement made or given under this section to produce books.

(11) A power conferred by this section to make a requirement of a person, extend where that person is a body corporate, to making that requirement of any person who is or has been an officer of the body corporate whether that body corporate is in the course of being wound up or has been dissolved.

(12) The Commission may publish and disseminate any information obtained under this section.