(1) Where the Bank has made or guaranteed a loan, it may from time to time —
(a) make or cause to be made such examination as may be necessary to ensure that the loan is being applied to the purpose for which it was made;
(b) require the person to whom the loan was made to give either immediately or periodically such information to the Bank as the Bank may require and such person shall comply with the requirements of the Bank.
(2) The Bank may authorise in writing any of its officers, servants, agents or any other person to make the examination contemplated by subsection (1)(a) and the person to whom the loan was made shall produce to such officer, servant or person all books, documents and other things necessary for the purpose of the examination.
(3) Any person to whom a loan was made who contravenes this section commits an offence and shall be liable on summary conviction to a fine not exceeding $5,000 or to imprisonment for a term not exceeding 3 months or to both such fine and imprisonment.