(Act 12 of 2004)


33. (1) The Bank may, at any time, cause a verification, examination or inspection to be made by any of its officers or by any other person authorised in that behalf by the Bank, of any bank, other financial institution, other entity or person subject to its supervision or required to provide statistical data.

(2) Any person authorised to act under subsection (1) shall be subject to the provisions of section 11 and may require any director, officer, or employee of any bank, other financial institution or other entity or person subject to the supervision of the Bank under any law –

(a) to produce for verification, examination or inspection without unnecessary delay, any books, records or other documents in his or her possession containing or likely to contain such information as the person authorised reasonably considers necessary for the purpose of the verification, examination or inspection of statistical data; and

(b) to give any information in his or her possession pertaining to the matter under verification, examination or inspection.

(3) Any person who –

(a) fails, refuses, neglects, or unreasonably delays to comply with any requirement under subsection (2); or

(b) in complying with any such requirement, furnishes any information or statistical data or produces any book, record or other document which the person knows to be false in any material particular, shall be guilty of an offence and liable on conviction to a fine of R20,000 and to imprisonment for six months.