Access to information

(1) The Corporation may, by notice in writing, require from a Fund member or any director, manager, auditor, officer, employee or agent of a Fund member, any information relating to the business of that Fund member that is relevant to a function of the Corporation, as specified in the notice. (2) A Fund member shall provide all requested information to the Corporation. 30 (3) A Fund member shall maintain records of deposits and depositors in a format directed by the Corporation in order to expedite the payment of compensation for insured deposits. (4) The Corporation may undertake on-site and off-site examinations to verify the reliability of a Fund member records of deposits and depositors and to examine the capability of the Fund member to provide accurate information. (5) A director, manager, auditor, officer or agent of a Fund member who is required to provide information to the Corporation under this Act shall not be regarded as being in breach of a duty to the Fund member for providing such (6) A Fund member, an officer of a Fund member or other person who fails to comply with a notice of the Corporation for information under sub-section (1) within the period of time stipulated, commits an offence and is liable on summary conviction to a fine of seventy five thousand dollars or to a term of imprisonment of two years, or to both such fine and term of imprisonment. (7) Notwithstanding sub-sections (1) to (6), the Corporation shall not exercise the authority to access information from a Fund member independently, if that information may be reasonably obtained– (a) from the Central Bank under section 9; or (b) otherwise, in cooperation with the Central Bank.