(1)The economic regulator may, for the purpose of exercising its functions under subsections (1) and (2) of section 28, serve a notice under subsection (2) on any licence holder.
(2)A notice under this subsection is a notice which—
(a)requires the person on whom it is served to produce, at a time and place specified in the notice, to the economic regulator any documents which are specified or described in the notice and are in that person’s custody or under their control, or
(b)requires that person, if they are carrying on a business, to provide to the economic regulator in the form and manner, and within the period, specified in the notice, the information specified or described in the notice.
(3)In paragraphs (a) and (b) of subsection (2) the reference to the economic regulator includes a person appointed by the economic regulator for the purpose of exercising the function in question.
(4)A person who intentionally alters, suppresses or destroys any document or record of information which that person has been required to produce by a notice under subsection (2) is guilty of an offence liable—
(a)on summary conviction in England and Wales, to a fine;
(b)on summary conviction in Scotland or Northern Ireland, to a fine not exceeding the statutory maximum;
(c)on conviction on indictment, to a fine.
(5)Except as provided by subsection (6), the disclosure of information under this section does not breach—
(a)any obligation of confidence owed by the person making the disclosure, or
(b)any other restriction on the disclosure of information (however imposed).
(6)This section does not authorise or require a disclosure of information if the disclosure would contravene the data protection legislation (but in determining whether a disclosure would do so, a requirement imposed by virtue of subsection (2) is to be taken into account).