(1) The powers conferred by this section may be exercised in respect of persons whom the Bank has reasonable grounds to believe have conducted or are conducting banking business or an associated undertaking or related undertaking, and these persons shall be referred to in this section as "persons to whom this section applies".
(2) An appropriate person may, for the purpose of obtaining any information which the Bank may require to enable it to exercise any of its statutory functions, do any one or more of the following things:
(a) at all reasonable times enter any premises, at which there are reasonable grounds to believe that any banking business or any activity in connection with banking business is, or has been, carried on or that books, records or other documents in relation to such business or activities are maintained, and search and inspect the premises and any books, records or other documents on the premises;
(b) secure for later inspection any premises or any part of a p