(1) Without prejudice to its powers under this Act, a supervisory authority may, subject to subsection (2) of this section, appoint one or more inspectors to investigate and report on any or all of the following, namely -

(a) the affairs and conduct of the business of an authorised investment business firm or other undertaking which is, or was at the relevant time, an associated or related undertaking of an authorised investment business firm, or any particular aspect of such business,

(b) compliance of the authorised investment business firm with all or any of the following:

(i) conditions or requirements or both imposed by the supervisory authority under this Act,

(ii) rules or codes of conduct set out or approved by the supervisory authority under this Act,

(iii) any condition or requirement of this Act,

(iv) rules or requirements set out or approved by the supervisory authority, with respect to clients' money and investment instruments,

(v) any other enactment,

and