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Financial Services Bill

179A: Clause 13, page 16, line 32, at end insert— "131EA Power to require information: supplementary (1) If the Authority has power under section 131E to require a person to produce a document but it appears that the document is in the possession of a third person, that power may be exercised in relation to the third person. (2) If a document is produced in response to a requirement imposed under section 131E, the Authority 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 Authority 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— (a) P is the person under investigation or a member of that person’s group; (b) the person to whom the obligation of confidence is owed is the person under investigation or a member of that person‘s group; 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." Amendment 179A agreed. Amendment 180 had been withdrawn from the Marshalled List. Amendments 180A and 181 Moved by