SCHEDULES
SCHEDULE 12

Amendments of Parts 11 and 23 of FSMA 2000
PART 1

Part 11 of FSMA 2000: information gathering and investigations
15
After section 176 insert—

Retention of documents taken under section 176
176A
1
Any document of which possession is taken under section 176 (“a seized document”) may be retained so long as it is necessary to retain it (rather than copies of it) in the circumstances.
2
A person claiming to be the owner of a seized document may apply to a magistrates' court or (in Scotland) the sheriff for an order for the delivery of the document to the person appearing to the court or sheriff to be the owner.
3
If on an application under subsection (2) the court or (in Scotland) the sheriff cannot ascertain who is the owner of the seized document the court or sheriff (as the case may be) may make such order as the court or sheriff thinks fit.
4
An order under subsection (2) or (3) does not affect the right of any person to take legal proceedings against any person in possession of a seized document for the recovery of the document.
5
Any right to bring proceedings (as described in subsection (4)) may only be exercised within 6 months of the date of the order made under subsection (2) or (3).
Sch. 12 para. 15 in force at 1.4.2013 by S.I. 2013/423, art. 3, Sch.