• PART 3 PART 3 INFORMATION GATHERING AND INVESTIGATIONS

    • 29. Registrar's power to require information: licensed persons etc.

      (1) The Registrar may, by notice in writing given to a licensed person, require him —
      (a) to provide specified information or information of a specified description; or
      (b) to produce specified documents or documents of a specified description.
      (2) The information or documents must be provided or produced —
      (a) before the end of such reasonable period as may be specified; and
      (b) at such place as may be specified.
      (3) An officer who has written authorisation from the Registrar to do so may require a licensed person without delay —
      (a) to provide the officer with specified information or information of a specified description; or
      (b) to produce to him specified documents or documents of a specified description.
      (4) This section applies only to information and documents reasonably required in connection with the exercise by the Registrar of functions conferred on it by or under these Regulations.
      (5) The Registrar may require any information provided under this section to be provided in such form as it may reasonably require.
      (6) The Registrar may require —
      (a) any information provided, whether in a document or otherwise, to be verified in such manner; or
      (b) any document produced to be authenticated in such manner,
      as it may reasonably require.
      (7) The powers conferred by subsections (1) and (3) may also be exercised by the Registrar to impose requirements on a person who is connected with a licensed person.
      (8) "Licensed person" includes a person who was at any time a licensed person but who has ceased to be a licensed person.
      (9) "Officer" means an officer of the Registrar and includes a member of the Registrar's staff or an agent of the Registrar.
      (10) "Specified" means —
      (a) in subsections (1) and (2), specified in the notice; and
      (b) in subsection (3), specified in the authorisation.
      (11) For the purposes of this section, a person is connected with another person ("A") if he is or has at any relevant time been —
      (a) a member of A's group;
      (b) a controller of A;
      (c) any other member of a partnership of which A is a member; or
      (d) in relation to A, a person mentioned in Part 1 of the Schedule (reading references in that Part to the licensed person as references to A).

    • 30. Appointment of persons to carry out general investigations

      (1) If it appears to the Registrar that there is good reason for doing so, it may appoint one or more competent persons to conduct an investigation on its behalf into —
      (a) the nature, conduct or state of the business of a licensed person;
      (b) a particular aspect of that business; or
      (c) the ownership or control of a licensed person.
      (2) If a person appointed under subsection (1) thinks it necessary for the purposes of his investigation, he may also investigate the business of a person who is or has at any relevant time been —
      (a) a member of the group of which the person under investigation ("A") is part; or
      (b) a partnership of which A is a member.
      (3) If a person appointed under subsection (1) decides to investigate the business of any person under subsection (2) he must give that person written notice of his decision.
      (4) The power conferred by this section may be exercised in relation to a former licensed person but only in relation to —
      (a) business carried on at any time when he was a licensed person; or
      (b) the ownership or control of a former licensed person at any time when he was a licensed person.
      (5) "Business" includes any part of a business even if it does not consist of carrying on controlled activities.

    • 31. Appointment of persons to carry out investigations in particular cases

      (1) Subsection (2) applies if it appears to the Registrar that there are circumstances suggesting that a person may have committed a contravention of any enactment or subordinate legislation where such contravention is punishable by a fine.
      (2) The Registrar may appoint one or more competent persons to conduct an investigation on its behalf.

    • 32. Investigations: general

      (1) This section applies if the Registrar appoints one or more competent persons ("investigators") under sections 30 or 31 to conduct an investigation on its behalf.
      (2) The Registrar must give written notice of the appointment of an investigator to the person who is the subject of the investigation ("the person under investigation").
      (3) Subsections (2) and (9) do not apply if the investigator is appointed as a result of section 31 and the Registrar believes that the notice required by subsections (2) or (9) would be likely to result in the investigation being frustrated.
      (4) A notice under subsection (2) must —
      (a) specify the provisions under which, and as a result of which, the investigator was appointed; and
      (b) state the reason for his appointment.
      (5) Nothing prevents the Registrar from appointing a person who is a member of its staff as an investigator.
      (6) An investigator must make a report of his investigation to the Registrar.
      (7) The Registrar may, by a direction to an investigator, control —
      (a) the scope of the investigation;
      (b) the period during which the investigation is to be conducted;
      (c) the conduct of the investigation; and
      (d) the reporting of the investigation.
      (8) A direction may, in particular —
      (a) confine the investigation to particular matters;
      (b) extend the investigation to additional matters;
      (c) require the investigator to discontinue the investigation or to take only such steps as are specified in the direction;
      (d) require the investigator to make such interim reports as are so specified.
      (9) If there is a change in the scope or conduct of the investigation and, in the opinion of the Registrar, the person subject to investigation is likely to be significantly prejudiced by not being made aware of it, that person must be given written notice of the change.

    • 33. Powers of persons appointed under section 30

      (1) An investigator may require the person who is the subject of the investigation ("the person under investigation") or any person connected with the person under investigation —
      (a) to attend before the investigator at a specified time and place and answer questions; or
      (b) otherwise to provide such information as the investigator may require.
      (2) An investigator may also require any person to produce at a specified time and place any specified documents or documents of a specified description.
      (3) A requirement under subsections (1) or (2) may be imposed only so far as the investigator concerned reasonably considers the question, provision of information or production of the document to be relevant to the purposes of the investigation.
      (4) For the purposes of this section, a person is connected with the person under investigation ("A") if he is or has at any relevant time been —
      (a) a member of A's group;
      (b) a controller of A;
      (c) a partnership of which A is a member; or
      (d) in relation to A, a person mentioned in Part 1 or Part 2 of the Schedule.
      (5) "Investigator" means a person conducting an investigation under section 30.
      (6) "Specified" means specified in a notice in writing.

    • 34. Additional power of persons appointed as a result of section 31

      (1) An investigator has the powers conferred by section 33.
      (2) An investigator may also require a person who is neither the subject of the investigation ("the person under investigation") nor a person connected with the person under investigation —
      (a) to attend before the investigator at a specified time and place and answer questions; or
      (b) otherwise to provide such information as the investigator may require for the purposes of the investigation.
      (3) A requirement may only be imposed under subsection (2) if the investigator is satisfied that the requirement is necessary or expedient for the purposes of the investigation.
      (4) "Investigator" means a person appointed as a result of section 31.
      (5) Subsections (6) to (8) apply if an investigator considers that any person ("A") is or may be able to give information which is or may be relevant to the investigation.
      (6) The investigator may require A —
      (a) to attend before him at a specified time and place and answer questions; or
      (b) otherwise to provide such information as he may require for the purposes of the investigation.
      (7) The investigator may also require A to produce at a specified time and place any specified documents or documents of a specified description which appear to the investigator to relate to any matter relevant to the investigation.
      (8) The investigator may also otherwise require A to give him all assistance in connection with the investigation which A is reasonably able to give.
      (9) "Specified" means specified in a notice in writing.

    • 35. Admissibility of statements made to investigators

      (1) A statement made to an investigator by a person in compliance with an information requirement is admissible in evidence in any proceedings, so long as it also complies with any requirements governing the admissibility of evidence in the circumstances in question.
      (2) "Investigator" means a person appointed under sections 30 or 31.
      (3) "Information requirement" means a requirement imposed by an investigator under sections 33, 34 or 36.

    • 36. Information and documents: supplemental provisions

      (1) If the Registrar or an investigator has power under this Part to require a person to produce a document but it appears that the document is in the possession of a third person, that power may be exercised in relation to the third person.
      (2) If a document is produced in response to a requirement imposed under this Part, the person to whom it is produced may —
      (a) take copies or extracts from the document; or
      (b) require the person producing the document, or any relevant person, to provide an explanation of the document.
      (3) A document so produced may be retained for so long as the person to whom it is produced considers that it is necessary to retain it (rather than copies of it) for the purposes for which the document was requested.
      (4) If the person to whom a document is so produced has reasonable grounds for believing —
      (a) that the document may have to be produced for the purposes of any legal proceedings; and
      (b) that it might otherwise be unavailable for those purposes,
      it may be retained until the proceedings are concluded.
      (5) If a person who is required under this Part to produce a document fails to do so, the Registrar or an investigator may require him to state, to the best of his knowledge and belief, where the document is.
      (6) A lawyer may be required under this Part to furnish the name and address of his client.
      (7) No person may be required under this Part to disclose information or produce a document in respect of which he owes an obligation of confidence by virtue of carrying on the business of banking unless —
      (a) he is the person under investigation or a member of that person's group;
      (b) the person to whom the obligation of confidence is owed is the person under investigation or a member of that person's group;
      (c) the person to whom the obligation of confidence is owed consents to the disclosure or production; or
      (d) the imposing on him of a requirement with respect to such information or document has been specifically authorised by the Registrar.
      (8) If a person claims a lien on a document, its production under this Part does not affect the lien.
      (9) "Relevant person", in relation to a person who is required to produce a document, means a person who —
      (a) has been or is or is proposed to be a director or controller of that person;
      (b) has been or is an auditor of that person;
      (c) has been or is an actuary, accountant or lawyer appointed or instructed by that person; or
      (d) has been or is an employee of that person.
      (10) "Investigator" means a person appointed under sections 30 or 31.

    • 37. Entry of premises under warrant

      (1) The court may issue a warrant under this section if satisfied on information on oath given by or on behalf of the Registrar or an investigator that there are reasonable grounds for believing that the first or second set of conditions is satisfied.
      (2) The first set of conditions is —
      (a) that a person on whom an information requirement has been imposed has failed (wholly or in part) to comply with it; and
      (b) that on the premises specified in the warrant —
      (i) there are documents which have been required; or
      (ii) there is information which has been required.
      (3) The second set of conditions is —
      (a) that the premises specified in the warrant are premises of a licensed person;
      (b) that there are on the premises documents or information in relation to which an information requirement could be imposed; and
      (c) that if such a requirement were to be imposed —
      (i) it would not be complied with; or
      (ii) the documents or information to which it related would be removed, tampered with or destroyed.
      (4) A warrant under this section shall authorise the person executing it —
      (a) to enter the premises specified in the warrant;
      (b) to search the premises and take possession of any documents or information appearing to be documents or information of a kind in respect of which a warrant under this section was issued ("the relevant kind") or to take, in relation to any such documents or information, any other steps which may appear to be necessary for preserving them or preventing interference with them;
      (c) to take copies of, or extracts from, any documents or information appearing to be of the relevant kind;
      (d) to require any person on the premises to provide an explanation of any document or information appearing to be of the relevant kind or to state where it may be found; and
      (e) to use such force as may be reasonably necessary.
      (5) A warrant under this section may be executed by any person authorised by the court issuing the warrant to execute it.
      (6) The warrant may authorise persons to accompany any person who is executing it.
      (7) "Investigator" means a person appointed under sections 30 or 31.
      (8) "Information requirement" means a requirement imposed —
      (a) by the Registrar under sections 29 or 36; or
      (b) by an investigator under sections 33, 34 or 36.

    • 38. Retention of documents taken under section 37

      (1) Any document of which possession is taken under section 37 ("a seized document") may be retained so long as it is necessary to retain it (rather than copies of it) in the circumstances.
      (2) A person claiming to be the owner of a seized document may apply to the court for an order for the delivery of the document to the person appearing to the court to be the owner.
      (3) If on an application under subsection (2) the court cannot ascertain who is the owner of the seized document the court may make such order as the court thinks fit.
      (4) An order under subsections (2) or (3) does not affect the right of any person to take legal proceedings against any person in possession of a seized document for the recovery of the document.
      (5) Any right to bring proceedings (as described in subsection (4)) may only be exercised within 6 months of the date of the order made under subsections (2) or (3).

    • 39. Contraventions

      (1) If a person other than the investigator ("the defaulter") fails to comply with a requirement imposed on him under this Part the person imposing the requirement may certify that fact in writing to the court.
      (2) If the court is satisfied that the defaulter failed without reasonable excuse to comply with the requirement, it may deal with the defaulter (and in the case of a body corporate, any director or other officer) as if he were in contempt.
      (3) A person who knows or suspects that an investigation is being or is likely to be conducted under this Part commits a contravention of these Regulations if —
      (a) he falsifies, conceals, destroys or otherwise disposes of a document which he knows or suspects is or would be relevant to such an investigation; or
      (b) he causes or permits the falsification, concealment, destruction or disposal of such a document, unless he shows that he had no intention of concealing facts disclosed by the documents from the investigator.
      (4) A person who, in purported compliance with a requirement imposed on him under this Part —
      (a) provides information which he knows to be false or misleading in a material particular; or
      (b) recklessly provides information which is false or misleading in a material particular,
      commits a contravention of these Regulations.
      (5) A person who commits either of the contraventions set out in subsections (3) and (4) shall be liable to a fine not exceeding level 6 on the standard fines scale.
      (6) Any person who intentionally obstructs the exercise of any rights conferred by a warrant under section 37 commits a contravention of these Regulations and shall be liable to a fine not exceeding level 5 on the standard fines scale.