Powers and duties of Corporation in relation to application

Where an application is submitted to the Corporation under this Act, (a) the Corporation shall acknowledge and register such application; (b) a member of the Corporation or any person authorised in writing by the Corporation may, if the Corporation thinks it necessary, on producing, if so required, his authority, inspect any premises in relation to which an application has been made for the purpose of obtaining information as may be reasonably required by the Corporation for the purpose of the exercise of any of its functions; but if the premises are occupied, admission thereto shall not be demanded as of right unless twenty-four hours notice of the intended entry is given to the occupier by registered post; (c) the Corporation shall carry out such inquiry as may be necessary for ascertaining the ability of the applicant to repay any loan or advance made in pursuance of, or any expenditure incurred in giving effect to, his