(1) The Panel may for the purposes of exercising the powers conferred on it by section 9 or 10 conduct a hearing, in such manner as it may determine, in relation to the matter concerned.

(2) The whole or any part of a hearing referred to in subsection (1) may be conducted otherwise than in public if the Panel considers, having regard to the interests of any party concerned or of any company, a transaction or proposed transaction affecting the securities of which is the subject of the hearing, that it is appropriate that the hearing or the part thereof be so conducted.

(3) The Panel shall for the purpose of a hearing referred to in subsection (1) have the powers, rights and privileges vested in the Court or a judge thereof on the hearing of an action in respect of -

(a) the enforcement of the attendance of witnesses and their examination on oath or otherwise, and

(b) the compelling of the production of documents,

and a summons signed by a director of the Panel may be substituted for and shall be equivalent to any formal process capable of being issued in an action for enforcing the attendance of witnesses and compelling the production of documents.