(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
(b) the protection of investors,
that an investigation should be held into the affairs of an investment firm or the market operator of a regulated market, 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 or market operator that is the subject of the application, and
(ii) where necessary, any subsidiary or other associated or related undertaking of the investment firm or market operator, and
(b) to report the results of the investigation in such manner as the Court directs.
(3) Before applying to the Court to appoint an inspector under this