75.Section 27 allows the OFT, a designated regulator (as defined by section 24(9)) or a person specified by the Secretary of State, to require information from the Council if the information is required for the purpose of exercising its functions. In doing so, they must consider the impact (including the cost) that complying with the requirement will have on the Council.
76.Subsections (6) and (7) mean that, if the Council fails to provide the information, it must give the person who requested the information a notice setting out the reasons for this failure, and the person requesting the information may publish the notice of reasons given by the Council.