Powers of F1FCA and PRA

Annotations:
Amendments (Textual)

F217 Power to require information.

1

The FCA or PRA may by notice in writing require a credit union or an officer or former officer of a credit union—

a

to produce to it such books, accounts and other documents relating to the credit union’s business, and

b

to provide it with such other information relating to that business,

as it considers necessary for the exercise of its functions under this Act.

2

The notice must be served on the credit union or other person.

3

The notice may contain a requirement that any information provided in accordance with the notice is to be verified by a statutory declaration.

4

A credit union or other person who fails to comply with a notice under this section commits an offence.

5

A person guilty of an offence under this section is liable on summary conviction to a fine not exceeding level 3 on the standard scale.