The Act of 1971 is hereby amended by the substitution of the following section for section 17:

"17.

(1) A holder of a licence shall keep at an office or offices within the State such books and records (including accounts) as may be specified from time to time by the Bank in the due discharge by the Bank of its statutory functions and shall notify the Bank of the address of every office at which any such book or record is kept for the purposes of this subsection.

(2) Different books and records may be specified by the Bank for the purposes of this section in relation to different holders of licences.

(3)

(a) An appropriate person duly authorised in writing in that behalf by the Governor of the Bank (in this subsection referred to as 'an authorised person') may, for the purpose of the performance by the Bank of its statutory functions and upon production of his authorisation, at all reasonable times, inspect and take copies of or extracts from, and make such enquiries as he may consider necessary in relation to -

(i) the books and records kept pursuant to this section by the holder of a licence, and

(ii) any books of account relating to the said holder and kept under the Companies Act, 1963, or under any enactment which is to be construed together as one with that Act, and

(iii) any other documents relating to the business of the said holder,