Section 54, The Insurance Act, 2000

The Commissioner may at any time, take such steps as he considers necessary for the inspection or verification of the assets invested in pursuance of section 52 or for the purpose of securing the particulars necessary to establish that the requirements of that section has been complied with; and the insurer shall comply with the requisition made by the Commissioner and if he fails to do so within two weeks from the receipt of the requisition he shall be deemed to have defaulted in complying with the requirements of section 52. No. 5 Insurance Act 2000 33 [Margin: Prohibition of loans to Directors.]