Inspection powers over Central Registry permit regulatory inspections, mandate production of records and require the registry to bear inspection costs. The amendment redefines 'Regulator' to include entities empowered to license, authorise, register, regulate or supervise reporting entities and the authority responsible for the Central KYC Records Registry. It inserts a provision enabling the designated monetary authority to call for information and to cause inspections of the Central Registry; inspection reports must be supplied to the Central Registry, its personnel must produce records and furnish information to inspecting officers, and the Central Registry must bear inspection expenses.
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Provisions expressly mentioned in the judgment/order text.
Inspection powers over Central Registry permit regulatory inspections, mandate production of records and require the registry to bear inspection costs.
The amendment redefines "Regulator" to include entities empowered to license, authorise, register, regulate or supervise reporting entities and the authority responsible for the Central KYC Records Registry. It inserts a provision enabling the designated monetary authority to call for information and to cause inspections of the Central Registry; inspection reports must be supplied to the Central Registry, its personnel must produce records and furnish information to inspecting officers, and the Central Registry must bear inspection expenses.
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