SCHEDULE 8Investors in licensed providers

6Approved regulator may obtain information

1

An approved regulator may require a person whose identity has been disclosed to it under paragraph 1 or 3 to provide it with such documents and other information as it may reasonably require.

2

It is an offence for a person who is required to provide information by virtue of sub-paragraph (1)—

a

to fail without reasonable excuse to comply with the requirement, or

b

knowingly to provide false or misleading information.

3

A person who commits an offence under sub-paragraph (2) is liable—

a

on summary conviction to a fine not exceeding the statutory maximum,

b

on conviction on indictment to a term of imprisonment not exceeding 2 years or a fine (or both).