(1) Notwithstanding anything contained in any other provisions of this Act, where a Director or any other officer authorised by the Director, on the basis of material in his possession, has reason to believe (the reasons for such belief to be recorded in writing), that an individual may be a fugitive economic offender, he may enter any place—

(i) within the limits of the area assigned to him; or

(ii) in respect of which he is authorised for the purposes of this section, by such other authority, who is assigned the area within which such place is situated.

(2) Where the Director or any other officer authorised by him, on the basis of material in his possession, has reason to believe (the reasons for such belief to be recorded in writing) that an individual may be a fugitive economic offender and it is necessary to enter any place as mentioned in sub-section (1), he may request any proprietor, employee or any other person who may be present at that time, to—

(a) afford him the necessary facility to inspect such records as he may require and which may be available at such place;

(b) afford him the necessary facility to check or verify the proceeds of crime or any transaction related to proceeds of crime which may be found therein; and

(c) furnish such information as he may require as to any matter which may be useful for, or relevant to any proceedings under this Act.

(3) The Director, or any other officer acting under this section may—

(i) place marks of identification on the records inspected by him and make or cause to be made extracts or copies therefrom;

(ii) make an inventory of any property checked or verified by him; and

(iii) record the statement of any person present at the property which may be useful for, or relevant to, any proceeding under this Act.