F1Part 8AShort selling
Power to require information
131FPower to require information: supplementary
F21
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2
If a document is produced in response to a requirement imposed under section 131E, the F4FCA may—
a
take copies of or extracts from the document; or
b
require the person producing the document, or any relevant person, to provide an explanation of the document.
3
In subsection (2)(b) “ relevant person ”, in relation to a person who is required to produce a document, means a person who—
a
has been or is or is proposed to be a director or controller of that person;
b
has been or is an auditor of that person;
c
has been or is an actuary, accountant or lawyer appointed or instructed by that person; or
d
has been or is an employee of that person.
4
If a person who is required under section 131E to produce a document fails to do so, the F4FCA may require the person to state, to the best of the person's knowledge and belief, where the document is.
5
A lawyer may be required under section 131E to provide the name and address of the lawyer's client.
6
A person (“P”) may not be required under section 131E to disclose information or produce a document in respect of which P owes an obligation of confidence by virtue of carrying on the business of banking unless—
F3a
the F4FCA suspects that P or a member of P’s group has contravened any provision of the short selling regulation;
F3b
the F4FCA suspects that the person to whom the obligation of confidence is owed or a member of that person’s group has contravened any provision of the short selling regulation; or
c
the person to whom the obligation of confidence is owed consents to the disclosure or production.
7
If a person claims a lien on a document, its production under section 131E does not affect the lien.
Pt. 8A inserted (8.6.2010) by Financial Services Act 2010 (c. 28), ss. 8, 26(2)(b)