34.— (1) The Head of Financial Regulation may hear oral evidence where he or she is satisfied that it is necessary to do so for the proper conduct of an investigation.

(2) The Head of Financial Regulation may permit a person giving oral evidence to be cross-examined.

(3) The Head of Financial Regulation shall determine the procedures for the conduct of proceedings in an investigation, subject to any regulations made by the Bank under section 53 (2).