Section 107 CollectionI1

England and Wales

F1(1)

The regulator, or a person authorised under subsection (4A), may for a purpose connected with the regulator’s functions require a person to provide documents or information which the regulator or person authorised (as the case may be) has reason to believe is or may be in the person’s possession.

F2(2)

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

F3(2A)

A requirement under subsection (1) may also require the person to provide an explanation of any document or information required under that subsection.

(3)

A requirement F4under subsection (1) may specify—

(a)

the form and manner in which a F5document, information or an explanation is to be provided (which may include the provision of a legible copy of information stored electronically);

(b)

when and where it is to be provided.

(4)

The regulator may copy or record F6documents, information or explanations provided.

F7(4A)

The regulator may in writing authorise a person to exercise any of its powers under this section.

(4B)

An authorisation—

(a)

must specify the extent to which the person is authorised to exercise the powers, and

(b)

may provide that the person is to be authorised for a particular period.

(5)

Failure to comply with a requirement F8under subsection (1) without reasonable excuse is an offence.

(6)

Intentionally altering, suppressing or destroying a document or information F9required under subsection (1) is an offence.

F10(6A)

Knowingly or recklessly providing the regulator, or a person authorised under subsection (4A), with a document, information or an explanation which is false or misleading in purported compliance with a requirement under subsection (1) is an offence.

(7)

If a person fails to comply with a requirement F11under subsection (1) the High Court may, on an application by the regulator, make an order for the purpose of remedying the failure.