Microfinance Bill, 2012 H.B. 2, 2012 of Inquiry Act [Chapter 10:07], other than the power to order a person to be detained in custody, and sections 9 to 13 and 15 to 19 of that Act shall apply, with such changes as may be necessary, in relation to an investigation made in terms of this section and to any person summoned to give or giving evidence at that investigation. (6) Any person who, without just cause, hinders or obstructs an investigator in the exercise of his functions under this section shall be guilty of an offence and liable to a fine not exceeding level five or to imprisonment for a period not exceeding six months or to both such fine and such imprisonment. 39 Procedure on completion of investigation (1) On completion of an investigation in term of section 38, an inspector shall forward his report thereon to the Reserve Bank. (2) On receipt of a report in terms of subsection (1), the Reserve Bank shall⎯ (a) send a summary of the conclusions reached in the report, and any recommendations made therein, to the microfinancier which was the subject of the investigation; and (b) invite the microfinancier to make representations on the conclusions and recommendations set out in the summary. (3) A microfinancier to which a summary of conclusions and recommendations has been sent in terms of subsection (2) may, within thirty days, submit to the Reserve Bank representations on any of the conclusions or recommendations. 40 Action by Reserve Bank following investigation (1) If, after considering an inspector’s report sent to it in terms of section 39(1) of section 37, together with any representations made by the microfinancier concerned in terms of subsection (3) of that section, the Reserve Bank is satisfied that the microfinancier has contravened any term or condition of its registration or any provision of this Act or any direction, requirement or order made under this Act, the Reserve Bank may, subject to subsection (2), take any action referred to in section 37(1). (2) Before taking any action referred to in subsection (1), the Reserve Bank shall⎯ (a) inform the microfinancier concerned, in writing, of the action it proposes to take; and (b) afford the microfinancier representations in the matter: concerned an adequate opportunity to make Provided that, where the Reserve Bank considers that immediate action is necessary to prevent irreparable harm to the microfinancier or its depositors, creditors or shareholders, the Reserve Bank may take such action before affording the institution an opportunity to make representations in terms of this subsection. 41 Expenses of investigation (1) The Reserve Bank may recover from a microfinancier which has been investigated in terms of this Part all the expenses necessarily incurred in connection with the investigation. (2) In any proceedings in a court for the recovery of any expenses referred to in subsection (1), a certificate purporting to be signed by the Governor or a Deputy Governor of - 25 -