(1) The Authority, shall examine or cause an examination to be made of each licensee from time to time or whenever in the judgment of the Authority such examination is necessary or expedient in order to determine that such licensee is in a sound financial condition and that the requirements of this Act have been complied with in the conduct of the business of the licensee.
(2) For the purpose of determining the condition of a licensee and compliance by the licensee with this Act, the Authority may at any time examine or cause an examination to be made of any affiliate of the licensee in Saint Lucia to the same extent that an examination may be made of the licensee.
(3) The Authority may assess a licensee for the reasonable expenses of conducting an examination under subsections (1) and (2).
(4) The Authority shall forward copies of balance sheets, statements and reports on the results of any examination to the licensee.
(5) A licensee refusing to make available for examination any books, accounts and records having been requested to do so by the Authority, commits an offence and is liable on summary conviction to a fine not exceeding $50,000 or imprisonment for a term not exceeding 2 years or to both such fine and imprisonment.