Companies (Audit, Investigations and Community Enterprise) Act 2004
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Change 1
15B Power of prescribed body to require documents, information and explanations
(1) This section applies where it appears to a prescribed body that there is, or may be, a question whether the periodic accounts and reports produced by an issuer of transferable securities comply with any accounting requirements imposed by Part 6 rules. (2) The prescribed body may require any of the persons mentioned in subsection (3) to produce any document, or to provide any information or explanations, that the body may reasonably require for the purpose of its functions. (3) Those persons are— (a) the issuer; (b) any officer, employee, or auditor of the issuer; (c) any persons who fell within paragraph (b) at a time to which the document or information required by the prescribed body relates. (4) If a person fails to comply with such a requirement, the prescribed body may apply to the court. (5) If it appears to the court that the person has failed to comply with a requirement under subsection (2), it may order the person to take such steps as it directs for securing that the documents are produced or the information or explanations are provided. (6) A statement made by a person in response to a requirement under subsection (2) or an order under subsection (5) may not be used in evidence against him in any criminal proceedings. (7) Nothing in this section compels any person to disclose documents or information in respect of which a claim to legal professional privilege (in Scotland, to confidentiality of communications) could be maintained in legal proceedings. (8) In this section— “the court” means the High Court or the Court of Session; and “document” includes information recorded in any form.
15B Power of prescribed body to require documents, information and explanations
(1) This section applies where it appears to a prescribed body that there is, or may be, a question whether the periodic accounts and reports produced by an issuer of transferable securities comply with any accounting requirements imposed by Part 6 rules. (2) The prescribed body may require any of the persons mentioned in subsection (3) to produce any document, or to provide any information or explanations, that the body may reasonably require for the purpose of its functions. (3) Those persons are— (a) the issuer; (b) any officer, employee, or auditor of the issuer; (c) any persons who fell within paragraph (b) at a time to which the document or information required by the prescribed body relates. (4) If a person fails to comply with such a requirement, the prescribed body may apply to the court. (5) If it appears to the court that the person has failed to comply with a requirement under subsection (2), it may order the person to take such steps as it directs for securing that the documents are produced or the information or explanations are provided. (6) A statement made by a person in response to a requirement under subsection (2) or an order under subsection (5) may not be used in evidence against him in any criminal proceedings. (7) Nothing in this section compels any person to disclose documents or information in respect of which a claim to legal professional privilege (in Scotland, to confidentiality of communications) could be maintained in legal proceedings. (8) In this section— “the court” means the High Court or the Court of Session; and “document” includes information recorded in any form.
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