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The Payment Services Regulations 2009

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OFT power to require information

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99.—(1) For the purposes of an investigation under regulation 98 the OFT may require any person—

(a)to produce to it or to a person appointed by it, at a specified time and place, any specified document, or

(b)to provide to it or to a person appointed by it, at a specified time and place, any specified information,

which the OFT considers relates to any matter relevant to the investigation.

(2) The power conferred by paragraph (1) is to be exercised by a notice indicating the subject matter and purpose of the investigation.

(3) Information required to be provided under paragraph (1) must be provided in the specified manner and form, or, if that is not possible, in the nearest equivalent manner and form.

(4) The power conferred by paragraph (1) to require a person to produce a document includes power—

(a)to require them to provide an explanation of the document, or

(b)if the document is not produced, to require them to state, to the best of their knowledge and belief, where it is.

(5) In this regulation—

“document” includes information recorded in any form;

“information” includes estimates and forecasts;

“specified” means—

(a)

specified, or described, in the notice referred to in paragraph (2), or

(b)

falling within a category which is specified, or described, in such notice.

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