PART 4FINANCIAL AFFAIRS OF REGULATED INSTITUTIONS
Supplementary powers for purpose of monitoring etc
36Financial management: powers of entry and inspection
1
For the purpose of the exercise of a function by virtue of section 31 or 34(2), an authorised person may—
a
enter the premises of a regulated institution;
b
inspect, copy or take away documents found on the premises.
2
In subsection (1)(b), references to—
a
documents include information recorded in any form;
b
documents found on the premises include—
i
documents stored on computers or electronic storage devices on the premises, and
ii
documents stored elsewhere which can be accessed by computers on the premises.
3
The power conferred by subsection (1)(b) includes power—
a
to require a person to provide documents;
b
to impose requirements as to how documents are provided (which may include requirements to provide legible copies of documents stored electronically);
c
to inspect a computer or electronic storage device on which documents have been created or stored.
4
A power conferred by this section may be exercised only after giving reasonable notice to the governing body of the regulated institution.
5
Subsection (4) does not apply to the exercise of a power if the authorised person is satisfied that—
a
the case is one of urgency, or
b
complying with that subsection would defeat the object of exercising the power.
6
In this section, “authorised person” means a person authorised in writing by HEFCW (whether generally or specifically) to exercise the powers conferred by this section.
7
Before exercising a power under this section, an authorised person must, if required to do so, produce a copy of the person’s authorisation under subsection (6).
8
The powers conferred by this section—
a
may be exercised at reasonable times only;
b
may not be exercised to require a person to do anything otherwise than at a reasonable time.
9
The powers conferred by this section do not include power to enter a dwelling without the agreement of the occupier.