(1) The Minister may, to monitor compliance by an international business company with this Act, serve a notice in writing on the international business company or its registered agent to obtain information under this Act.
(2) A notice issued under subsection (1) must—
(a) identify the purpose for which the information is requested and the manner in which it will be used;
(b) contain details of the information required;
(c) inform the international business company or its registered agent of the confidentiality and data safeguards under which the information provided will be protected;
(d) direct the international business company or its registered agent to deliver the information;
(e) specify the time within which the information sought in the notice is to be delivered to the Minister.
(3) An international business company or its registered agent may, in writing, request an extension of time to comply with a notice issued under subsection (1).
(4) The Minister may extend the time specified in the notice issued under subsection (1).
(5) An international business company or registered agent that is directed by a notice to deliver information to the Minister shall deliver it to the Minister in accordance with the notice.
(6) Where an international business company or registered agent fails to comply with a notice issued under this section, an authorised officer may apply to a magistrate for a warrant to enter on premises for the purpose of enforcing the notice.
(7) An international business company or registered agent shall not—
(a) in, or in connection with, delivering information under this section, wilfully tamper with or alter any information or any part of the information so that the information or any aspect of it is false when received by the Minister;
(b) wilfully alter, destroy, damage or conceal any information required by the Minister under this section.
(8) An international business company or registered agent that contravenes subsection (7) is liable to a penalty of $50 000.
(Inserted by Act 2 of 2022)