255. Access to Regulator material

(1) If the Regulator gives a person ("A") a notice to which this section applies, it must —
(a) allow him access to the material on which it relied in making the decision which gave rise to the obligation to give the notice;
(b) allow him access to any Secondary Material which, in the Regulator's opinion, might undermine that decision.
(2) But the Regulator giving the notice does not have to allow A access to material under subsection (1) if the material is a Protected Item or it —
(a) relates to a case involving a person other than A; and
(b) was taken into account by the Regulator in A's case only for purposes of comparison with other cases.
(3) The Regulator may refuse A access to particular material which it would otherwise have to allow him access to if, in its opinion, allowing him access to the material —
(a) would not be in the public interest; or
(b) would not be fair, having regard to —
(i) the likely significance of the material to A in relation to the matter in respect of which he has been given a notice to which this section applies; and
(ii) the potential prejudice to the commercial interests of a person other than A which would be caused by the material's disclosure.
(4) If the Regulator does not allow A access to material because it is a Protected Item, it must give A written notice of —
(a) the existence of the Protected Item; and
(b) the Regulator's decision not to allow him access to it.
(5) If the Regulator refuses under subsection (3) to allow A access to material, it must give him written notice of —
(a) the refusal; and
(b) the reasons for it.