Section 52 Powers to obtain information and documents etc.

This section applies to information, documents or other material, or explanations of matters, which relate to the business of a building society or its plans for future development and, in relation to the obtaining under this section of information or explanations or the production under this section of documents or other material to which it applies “the purposes of its supervisory functions” means the purposes of the discharge by the F1F2FCA or the PRA of any of their respective functions under Part I, sections 36, 36A, 37, 42B, 42C and 46A, Part X and section 107.

Where a building society has F3connected undertakings this section also applies to information, documents or other material, or explanations of matters, which relate to, or also relate to, the business, or the plans for future development, of every such F4connected undertaking.

Where the Commission has grounds under section 51(1) for giving a direction to a building society under subsection (2) of that section in relation to another body corporate this section also applies to information, documents or other material, or explanations of matters, which relate to the business of that other body.

This section does not authorise any requirement in relation to information, documents or other material to be imposed on a F6connected undertaking of a building society unless F7that undertaking carries on business in the United Kingdom; but a requirement may be imposed under this section on a building society in relation to information, documents or other material in the possession or control of a F8connected undertaking outside the United Kingdom.

Subject to subsection (4) above, the F9FCA and the PRA may by notice to a building society, F10or connected undertaking—

Subject to subsection (4) above, F15any person authorised for the purpose by the F16FCA or the PRA (“an authorised officer”) may, on producing evidence of his authority, require a building society or connected undertaking—

Where by virtue of subsection (5)(a) to (c) above the F18FCA or the PRA has power , or by virtue of subsection (5A) above an authorised F19officer has power, to require the furnishing of any information, the production of any document or material or the provision of any explanation, by a building society or connected undertaking, the F20FCA, the PRA or the authorised officer (as the case may be) shall have the like power as regards any person who—

Where any person from whom production of a document or material is required under subsection (6) above claims a lien on the document or material, the production of it shall be without prejudice to the lien.

Nothing in the foregoing provisions of this section shall compel the production by a F21relevant lawyer of a document or material containing a privileged communication made by him or to him in that capacity or the furnishing of information contained in a privileged communication so made.

Where, by virtue of subsection (5), (5A) or (6) above, the F23FCA, the PRA or an authorised officer requires the production by a building society or connected undertaking or any other person of documents or material, the F24FCA, the PRA or the authorised officer (as the case may be) may—

Any person who, when required to do so under this section, fails without reasonable excuse to furnish any information or accountant’s report, to produce any documents or material, or to provide any explanation or make any statement, shall be liable on summary conviction—

Any building society which furnishes any information, provides any explanation or makes any statement which is false or misleading in a material particular shall be liable, on conviction on indictment or on summary conviction, to a fine which, on summary conviction, shall not exceed the statutory maximum.

Any person who knowingly or recklessly furnishes any information, provides any explanation or makes any statement which is false or misleading in a material particular shall be liable—

In this section—

• “agent”, in relation to a building society or connected undertaking, includes its bankers, accountants, solicitors and auditors;

• “approved”, in relation to an accountant or other person with relevant professional skill, means approved by the F26FCA or the PRA ;

• F27“relevant lawyer” means a barrister, advocate, solicitor or other legal representative communications with whom may be the subject of a claim to professional privilege;

• “specified” means specified in a notice or requirement under this section.