Article 57 Production of documents and provision of information

Northern Ireland

(1)

The F1FCA may at any time, by notice in writing served on a credit union or on any person who is or has been an officer of a credit union, require that credit union or person to produce to the FCA such books, accounts and other documents relating to the business of the credit union, and to furnish to F2it such other information relating to that business, as the FCA considers necessary for the exercise of F3its powers under this Order; and any such notice may contain a requirement that any information to be furnished in accordance with the notice shall be verified by a statutory declaration.

(2)

The F4FCA may, if F5the FCA considers it just, direct that all or any of the expenses incurred by F6it in exercising F7its powers under paragraph (1) in relation to any credit union shall, either wholly or to such extent as he may determine, be defrayed out of the funds of the credit union or by the officers or former officers of the credit union or any of them; and any sum which any credit union or other person is required by such a direction to pay shall be a debt recoverable summarily by the FCA from that credit union or person

(3)

F8. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(4)

Any credit union or other person failing, without reasonable excuse, to comply with a notice under paragraph (1) F9. . . shall be guilty of an offence and shall be liable on summary conviction to a fine not exceeding level 3 on the standard scale.

Annotations

Textual amendments

F1: Word in art. 57(1) substituted (6.4.2018 immediately after 2016 c. 16 (N.I.), s. 8(2) comes into force) by The Financial Services Act 2012 (Mutual Societies) Order 2018 (S.I. 2018/323), art. 1, Sch. 3 para. 2(l) (with art. 3)
F2: Word in art. 57(1) substituted (6.4.2018 immediately after 2016 c. 16 (N.I.), s. 8(2) comes into force) by The Financial Services Act 2012 (Mutual Societies) Order 2018 (S.I. 2018/323), art. 1, Sch. 3 para. 12(a) (with art. 3)
F3: Word in art. 57(1) substituted (6.4.2018 immediately after 2016 c. 16 (N.I.), s. 8(2) comes into force) by The Financial Services Act 2012 (Mutual Societies) Order 2018 (S.I. 2018/323), art. 1, Sch. 3 para. 12(b) (with art. 3)
F4: Word in art. 57(2) substituted (6.4.2018 immediately after 2016 c. 16 (N.I.), s. 8(2) comes into force) by The Financial Services Act 2012 (Mutual Societies) Order 2018 (S.I. 2018/323), art. 1, Sch. 3 para. 2(l) (with art. 3)
F5: Words in art. 57(2) substituted (6.4.2018 immediately after 2016 c. 16 (N.I.), s. 8(2) comes into force) by The Financial Services Act 2012 (Mutual Societies) Order 2018 (S.I. 2018/323), art. 1, Sch. 3 para. 3(c) (with art. 3)
F6: Word in art. 57(2) substituted (6.4.2018 immediately after 2016 c. 16 (N.I.), s. 8(2) comes into force) by The Financial Services Act 2012 (Mutual Societies) Order 2018 (S.I. 2018/323), art. 1, Sch. 3 para. 12(a) (with art. 3)
F7: Word in art. 57(2) substituted (6.4.2018 immediately after 2016 c. 16 (N.I.), s. 8(2) comes into force) by The Financial Services Act 2012 (Mutual Societies) Order 2018 (S.I. 2018/323), art. 1, Sch. 3 para. 12(b) (with art. 3)
F8: Art. 57(3) omitted (31.3.2012) by virtue of Financial Services and Markets Act 2000 (Permissions, Transitional Provisions and Consequential Amendments) (Northern Ireland Credit Unions) Order 2011 (S.I. 2011/2832), arts. 1(2), 13(28)(a)
F9: Words in art. 57(4) omitted (31.3.2012) by virtue of Financial Services and Markets Act 2000 (Permissions, Transitional Provisions and Consequential Amendments) (Northern Ireland Credit Unions) Order 2011 (S.I. 2011/2832), arts. 1(2), 13(28)(b)