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Change 1
As published
65 Power to require explanation
(1) The Secretary of State may by regulations make provision requiring prescribed persons to provide an explanation of any relevant matter to the Commission, or to persons authorised by the Commission, in circumstances where the Commission considers the explanation necessary or expedient for the purposes of any of its regulatory functions.
(2) “Relevant matter” means—
(a) any documents, records or other items inspected, copied or provided under sections 62 to 64,
(b) any information provided under those sections,
(c) any documents, records, other items or information otherwise provided to the Commission by any person for the purposes of the Commission's regulatory functions, or
(d) any matters which are the subject of the exercise of any such functions.
(3) Regulations under subsection (1) may require explanations to be provided at such times and places as may be specified by the Commission.
(4) A person who without reasonable excuse fails to comply with a requirement imposed by virtue of this section is guilty of an offence and liable on summary conviction to a fine not exceeding level 4 on the standard scale.
Your change, as a redline
65 Power to require explanation
(1) The Secretary of State may by regulations make provision requiring prescribed persons to provide an explanation of any relevant matter to the Commission, or to persons authorised by the Commission, in circumstances where the Commission considers the explanation necessary or expedient for the purposes of any of its regulatory functions.
(2) “Relevant matter” means—
(a) any documents, records or other items inspected, copied or provided under sections 62 to 64,
(b) any information provided under those sections,
(c) any documents, records, other items or information otherwise provided to the Commission by any person for the purposes of the Commission's regulatory functions, or
(d) any matters which are the subject of the exercise of any such functions.
(3) Regulations under subsection (1) may require explanations to be provided at such times and places as may be specified by the Commission.
(4) A person who without reasonable excuse fails to comply with a requirement imposed by virtue of this section is guilty of an offence and liable on summary conviction to a fine not exceeding level 4 on the standard scale.
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