Section 33: Special Examination.

(1) The Governor shall have power to order a special examination or investigation of the books and affairs of a bank, other financial institution or specialised bank where-
(a) it is in the public interest to do so;
(b) the bank, other financial institution or specialised bank has been carrying on its business in a manner detrimental to the interest of its depositors or creditors;
(c) the bank, other financial institution or specialised bank has insufficient assets to cover its liabilities to the public;
(d) the bank has been contravening the provisions of this Act or any other relevant law; or
(e) an application is made by-
(i) a director or shareholder of the bank, other financial institution or specialised bank; or
(ii) a depositor or creditor of the bank, other financial institution or specialised bank:
Provided that in the case of paragraph (e), the Governor may not order a special examination or investigation, of the books and affairs of a bank, other financial institution or specialised bank if the Governor is satisfied that it is not necessary to do so.
(2) For the purpose of subsection (1), the Governor shall have power to appoint one or more qualified persons other than the officers of the Bank to conduct special examination or investigation under conditions of confidentiality, of the books and affairs of a bank, other financial institution or specialised bank.
(3) The Governor shall have power to order that all expenses of, or incidental to an examination or investigation be paid by the bank, other financial institution or specialised bank examined or investigated.