C1Part II Regulation of Insurance Companies
Powers of intervention
43AF2 General investigations.
1
The F3Treasury may appoint one or more competent persons to make an investigation into and report to the F3Treasury on—
a
whether the criteria of sound and prudent management are fulfilled with respect to any insurance company which is a UK or non-EC company ; or
b
where a person has notified the F3Treasury under section 60 or 61 below of his intention to become a controller of any such company, whether those criteria would be so fulfilled if that person became such a controller;
and the F3Treasury shall give written notice of any such appointment to the company.
2
It shall be the duty of every person who is or was a director, manager, controller, agent, actuary, auditor or solicitor of a company which is under investigation—
a
to produce to the persons appointed under subsection (1) above, within such time and at such place as they may require, all documents relating to the company which are in his custody or power;
b
to attend before the persons so appointed at such time and place as they may require; and
c
otherwise to give those persons all assistance in connection with the investigation which he is reasonably able to give;
and those persons may take copies of or extracts from any documents produced to them under paragraph (a) above.
3
For the purpose of exercising his powers under this section a person appointed under subsection (1) above may enter any premises occupied by a company which is being investigated by him under this section; but he shall not do so without prior notice in writing unless he has reasonable cause to believe that if such a notice were given any documents whose production could be required would be removed, tampered with or destroyed.
4
A person exercising powers by virtue of an appointment under this section shall, if so required, produce evidence of his authority.
C25
A statement made by a person in compliance with a requirement imposed by virtue of this section may be used in evidence against him.
C2F4C26
However, in criminal proceedings in which that person is charged with an offence to which this subsection applies—
a
no evidence relating to the statement may be adduced, and
b
no question relating to it may be asked,
by or on behalf of the prosecution, unless evidence relating to it is adduced, or a question relating to it is asked, in the proceedings by or on behalf of that person.
C27
Subsection (6) above applies to any offence other than—
a
an offence under section 71(1)(b) or (3) below;
b
an offence under section 5 of the M1Perjury Act 1911 (false statements made otherwise than on oath);
c
an offence under section 44(2) of the M2Criminal Law (Consolidation) (Scotland) Act 1995 (false statements made otherwise than on oath); or
d
an offence under Article 10 of the M3Perjury (Northern Ireland) Order 1979 (false statements made otherwise than on oath).
Pt. II (ss. 15-71) restricted (1.1.1993) by S.I. 1992/3218, reg65
Pt. II (ss. 15-71) extended (24.12.1996) by S.I. 1996/3011, reg. 3(1)(b), 10(1)