(1)  The Director shall, for the purposes of section 13, have the same powers as are vested in a civil court under the Code of Civil Procedure, 1908 (5 of 1908) while trying a suit in respect of the following matters, namely:—

   (a)  discovery and inspection;

   (b)  enforcing the attendance of any person, including any officer of a ¹[reporting entity] and examining him on oath;

   (c)  compelling the production of records;

   (d)  receiving evidence on affidavits;

   (e)  issuing commissions for examination of witnesses and documents; and

   (f)  any other matter which may be prescribed.

   (2)  The Director, Additional Director, Joint Director, Deputy Director or Assistant Director shall have power to summon any person whose attendance he considers necessary whether to give evidence or to produce any records during the course of any investigation or proceeding under this Act.

   (3)  All the persons so summoned shall be bound to attend in person or through authorised agents, as such officer may direct, and shall be bound to state the truth upon any subject respecting which they are examined or make statements, and produce such documents as may be required.

   (4)  Every proceeding under sub-sections (2) and (3) shall be deemed to be a judicial proceeding within the meaning of section 193 and section 228 of the Indian Penal Code (45 of 1860).

   (5)  Subject to any rules made in this behalf by the Central Government, any officer referred to in sub-section (2) may impound and retain in his custody for such period, as he thinks fit, any records produced before him in any proceedings under this Act:

   Provided that an Assistant Director or a Deputy Director shall not—

   (a)  impound any records without recording his reasons for so doing; or

   (b)  retain in his custody any such records for a period exceeding three months, without obtaining the previous approval of the ²[Joint Director].