Textual Amendments
F1Sch. 1A inserted (8.4.2010 for certain purposes and 1.4.2011 otherwise) by Financial Services Act 2010 (c. 28), ss. 2(6), 26(1)(b)(k), Sch. 1 para. 1 (with Sch. 1 para. 2); S.I. 2010/2480, art. 3
15(1)The [F2FCA] may appoint an independent person to conduct a review of the economy, efficiency and effectiveness with which the consumer financial education body has used its resources in discharging the consumer financial education function.U.K.
(2)The [F2FCA] must consult the Treasury before acting under this paragraph.
(3)A review is not to be concerned with the merits of the body's general policy or principles in discharging the consumer financial education function.
(4)On completion of a review, the person conducting it must make a written report to the [F2FCA]—
(a)setting out the result of the review; and
(b)making such recommendations (if any) as the person considers appropriate.
(5)The [F2FCA] must publish a copy of the report in the way it considers appropriate.
(6)Any expenses reasonably incurred in the conduct of the review are to be met by the [F2FCA].
(7)“Independent” means appearing to the [F2FCA] to be independent of the consumer financial education body.
Textual Amendments
F2Word in Sch. 1A para. 15 substituted (24.1.2013 for specified purposes, 1.4.2013 in so far as not already in force) by Financial Services Act 2012 (c. 21), s. 122(3), Sch. 15 para. 15 (with Sch. 20); S.I. 2013/113, art. 2(1)(c), Sch. Pt. 3; S.I. 2013/423, art. 3, Sch.
16(1)A person conducting a review under paragraph 15—U.K.
(a)has a right of access at any reasonable time to all such documents as the person may reasonably require for the purposes of the review; and
(b)may require any person holding or accountable for any such document to provide such information and explanation as are reasonably required for those purposes.
(2)This paragraph applies only to documents in the custody or under the control of the consumer financial education body.
(3)An obligation imposed on a person as a result of this paragraph is enforceable by an injunction or, in Scotland, by an order for specific performance under section 45 of the Court of Session Act 1988.]