1013. Valuer entitled to full disclosure
Past version: effective from 29/04/2020 - 28/04/2020
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(1) A person carrying out a valuation or making a report with respect to any consideration proposed to be accepted or given by a company, is entitled to require from the officers of the company such information and explanation as he thinks necessary to enable him to–
(a) carry out the valuation or make the report, and
(b) provide any note required by section 553(3) or 557 (3) (note required where valuation carried out by another person).
(2) A person who knowingly or recklessly makes a statement to which this subsection applies that is misleading, false or deceptive in a material particular commits a contravention of these Regulations.
(3) Subsection (2) applies to a statement–
(a) made (whether orally or in writing) to a person carrying out a valuation or making a report, and
(b) conveying or purporting to convey any information or explanation which that person requires, or is entitled to require, under subsection (1).
(4) A person who commits the contravention referred to in subsection (2) is liable to a level 2 fine.