58Contributor’s response

58 Contributor’s response (1) A contributor must, within the period prescribed by regulation (or, if no period is prescribed, within 1 month after the day the contributor receives a contribution notice), give the respondent who gave the contribution notice a written response (the contributor’s response)— (a) containing a statement of information prescribed by regulation; and (b) accompanied by the documents (if any) prescribed by regulation. (2) The contributor’s response must also state— (a) whether the claim for the contribution or indemnity claimed in the contribution notice is admitted, denied or admitted in part; and (b) if the claim for the contribution or indemnity is admitted in part—the extent to which it is admitted. (3) An admission of liability in the contributor’s response— (a) is not binding on the contributor in relation to any other claim; and (b) is not binding on the contributor at all if it later appears the admission was induced by fraud. (4) If the respondent requires information given by a contributor under this section to be verified, the contributor must give the respondent a