12.—(1) If any relevant person fails to provide to the Regulator any of the required information or documentation within a reasonable time, specified in writing by the Regulator, the Regulator may deem the value of that person’s resources to be an amount determined by the Regulator.
(2) When making the determination referred to in paragraph (1), the Regulator must take into account all relevant information in its possession, and having done so, no further verification of the amount so determined is required.
(3) In this regulation—
“relevant person” means a person the value of whose resources the Regulator is seeking to have verified in accordance with regulation 10 or 11 (as the case may be), and
“required information or documentation” means any information or documentation required by regulation 10 or 11 (as the case may be).