(1) In the performance of his or her duty under this Act the Director shall be guided by the policy directives of the Minister.
(2) The Director shall—
(a) maintain a general review of international banking practice in Saint Lucia;
(b) examine, in such manner as the Director thinks necessary, the affairs or business of any licensee for the purpose of satisfying the Director that this Act is being complied with and that the licensee is in a sound financial position and shall report to the Minister the results of every such examination;
(c) when required by the Minister, assist in the investigation of any offence against the law in force in Saint Lucia which the Minister has reasonable grounds to believe has or may have been committed by a licensee or by any of its directors or officers in their capacity as such;
(d) examine returns, certificates and audited annual accounts and to report on them to the Minister; and
(e) examine and make recommendations to the Minister with respect to applications for licences.
(3) In the performance of the Director's duties under this Act and to verify compliance with the provisions of this Act by a licensee, subject to section 19, the Director is entitled at all reasonable times—
(a) to have access at its registered office to such books, records, vouchers, documents, cash, securities and other information or a licensee as may be specified by the Director;
(b) to require the directors, officers and auditor of a licensee to provide information and explanations of the condition and affairs of the licensee;
(c) to request any relevant information, matter or thing from any person who the Director has reasonable grounds to believe is carrying on international banking business in Saint Lucia in contravention of section 3;
(d) to request any relevant information, return or certificate from a licensee, either or on a regular basis;
(e) to request from any person information or expert advice relevant to the duties of the Director and to provide to the person assurances regarding the confidential treatment of the information or any other assurances as the Director may reasonably provide.
(4) Where the Director requires a person to provide information and explanations under subsection (3)(b) and the Director is not satisfied with the information or explanations, the Minister may exercise his or her powers under section 20.
(5) The Director, with the approval of the Minister, may, in writing, authorise any other person to assist the Director in the performance of his or her functions under the Act.
(6) If it appears to the Director that there are reasonable grounds for suspecting that an offence against this Act has been or is being committed by any person, the Director may, with the approval of the Court, take such action as the Director considers necessary, in the interests of the depositors or other creditors of that person, to preserve any assets held by that person.