(1) The functions of the Director under this Act shall include—
(a) monitoring the business of international financial services representation conducted by licensees under this Act;
(b) where the Director thinks fit examining the affairs or business of any licensee for the purpose of satisfying the Director that the provisions of this Act are being complied with;
(c) reporting to the Minister regarding the examination of licensees with respect to the matters referred to in paragraph (a) and (b);
(d) examining and making recommendations, to the Minister with respect to all applications for licences.
(2) For performance of his or her functions under this Act and to verify compliance with the provisions of this Act by a licensee, the Director is entitled at all reasonable times—
(a) to have access to such books, records, vouchers, documents, securities and other assets and information held by a licensee at any place of business as determined by the Director;
(b) to require the directors, officers and auditor of a licensee to provide information and explanation of the condition and affairs of the licensee;
(c) to request any information, return or certificate from a licensee, either from time to time or on a regular basis; and
(d) to request from any person information or expert advice relevant to the duties of the Director and to provide to such person such assurances regarding the confidential treatment of the information or any other assurances as the Director may reasonably provide.
(3) Where a licensee or a director, officer or auditor of a licensee fails to comply with a requirement issued by the Director under this Act, the failure shall be grounds for the recommendation by the Director to the Minister of the suspension, under section 20, of the licence of that licensee.