Microfinance Bill, 2012 H.B. 2, 2012 the Reserve Bank and setting out the amount of the expenses concerned shall be prima facie proof of their amount. 42 Statements and reports to be submitted by microfinanciers (1) At such times as may be prescribed, every microfinancier shall submit to the Registrar a statement in such form as may be prescribed, reflecting the microfinancier’s operations and condition. (2) Within ninety days after the end of its financial year, every microfinancier shall submit to the Registrar a copy of the financial statement prepared in terms of section 22(1)(b) and certified (in the case of microfinance institutions) by the institution’s auditor. (3) If required to do so by the Registrar for the purpose of ensuring proper compliance with this Act, every microfinancier shall supply the Registrar with any document, report or information whatsoever relating to the microfinancier’s business or transactions. 43 Appointment of supervisors and inspectors (1) The Reserve Bank may appoint⎯ (a) as supervisors one or more of its officers or employees as supervisors for the purpose of monitoring and supervising microfinanciers and exercising any other function conferred or imposed on supervisor by or in terms of this Act; and (b) subject to the Public Service Act [Chapter 16:04], one or more persons as inspectors for the purpose of conducting an investigation into any microfinancier or class of such microfinancier and exercising any other function conferred or imposed on inspectors by or in terms of this Act. (2) The Reserve Bank may appoint an officer or employee to be both a supervisor and an inspector in terms of subsection (1). (3) The Reserve Bank shall provide every supervisor and inspector with a document identifying him or her as a supervisor or inspector, as the case may be, and he or she shall produce it on request by any interested person. (4) Any person appointed as a supervisor or inspector in terms of section 46 of the Banking Act [Chapter 24:20] (Act No. 9 of 1999)shall be entitled to carry out the functions of a supervisor or inspector, as the case may be, as if he or she had been appointed in terms of this section. PART VIII ENFORCEMENT OF MICROFINANCIERS’ CODE OF CONDUCT 44 Application of Part VIII (1) This Part applies to the investigation, hearing and, if necessary, punishment of any allegation that a microfinancier has engaged in any undesirable method of conducting business. (2) For the avoidance of doubt it is declared that a microfinancier shall not be guilty of an undesirable method of conducting business by virtue of an act or omission of a person employed by it if it is proved that the responsible authority of the microfinancier did not know and could not reasonably be expected to have known of the act or omission. - 26 -