(1) Without prejudice to the powers of the Bank under these Regulations, where the Bank is of the opinion that it is in the interest of -

(a) the proper and orderly regulation and supervision of investment firms or regulated markets or data reporting service providers, or

(b) the protection of investors,

that an investigation should be held into the affairs of an investment firm, the market operator of a regulated market or a data reporting service provider, the Bank may apply to the Court for an order authorising such an investigation.

(2) On application by the Bank under paragraph (1), the Court, as it thinks proper may appoint one or more inspectors to -

(a) investigate the affairs of -

(i) the investment firm, market operator or data reporting service provider that is the subject of the application, and

(ii) where necessary, any subsidiary or other associated or related undertaking of the investment firm, market operator or data reporting service provider, and