Industrial and Provident Societies (Amendment) Act, 1978

Inspection of books and other documents of a credit union.

21.—(1) In this section “an authorised person” means any person or any body of credit unions authorised by the Registrar for the purpose of this section.

(2) An authorised person may, at the request of the Registrar, and on production of his authorisation to any person concerned, at all reasonable times inspect and take copies of or extracts from accounts, deeds, books, records or other documents relating to the business of a credit union, and for any of those purposes may enter any premises at which any such documents are kept.

(3) An authorised person who is carrying out an inspection under this section in relation to a credit union may, with the approval of the Registrar, carry out a similar inspection in relation to any other society or body corporate which is or has at any relevant time been associated with the credit union, and for that purpose may exercise, in relation to the associated society or body corporate, any power conferred by subsection (2).

(4) A person who has in his power, possession or procurement any of the accounts, deeds, books, records or other documents of a credit union referred to in subsection (2) or a society or other body corporate referred to in subsection (3) shall produce them at the request of an authorised person, permit the authorised person to inspect and take copies of or extracts from them and give him any information which he may reasonably require regarding any entries in them.

(5) Where an inspection is carried out under this section by an authorised person who is a body of credit unions, a report of the inspection shall be made to the Registrar at his request.