(1) The Commission may by notice in writing, at any time where it considers that there is sufficient cause to do so, give directions to-

(a) a stock exchange;

(b) a member of the council of a stock exchange;

(d) a person who is or has been, either alone or together with another person a dealer or an investment adviser or is or has been a dealer's representative;

(e) a nominee controlled by a person referred to in paragraph (a) or (d) jointly controlled by two or more persons at least one of whom is a person referred to in these paragraphs; [As amended by Securities Industry (Amendment) Act, 2000 (Act 590), sch. to s.13].

(f) 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 stock exchange or a person referred to in paragraph (b), (c), (d) or (e);

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

(h) any person, to produce to a person authorised by the Commission such books, subject to subsection (2), as may be specified in the direction.

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

(a) the business or affairs of a stock exchange;

(b) any dealing in securities;

(d) any advice concerning securities or the 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) or (e) of subsection (1); or

(f) an audit of, or any report of an auditor concerning a dealing in securities or any accounts or records of a dealer or of an investment adviser.

(3) No direction to produce shall be made to any person under section 10(1)(h) unless the Commission believes that the person has in his custody or under his control books which relate to a matter specified under subsection (2) of this section.

(4) No books shall be directed to be produced by any person under section 10(1)(h) at a 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 authorise a person possessed of such qualification as it considers adequate to exercise the power to request for the production of books conferred on it under this section.

(6) A reference in subsection (1) to a 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 authorisation from the Commission to any person under subsection (5) may be of general application or may be limited to making requirements of a particular stock exchange, manager of a unit trust scheme or manager of a mutual fund or other person.

(8) Where the Commission, or a person authorised by the Commissioner, requires the production of any 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 authorised officer shall where required to do so produce evidence of his authorisation.

(10) No action shall lie against any person for complying with a direction 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 extends if the 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.