264Power to obtain information and documents

264 Power to obtain information and documents

(1) The regulator, by written notice, may require a permission holder who the regulator believes is capable of providing information or producing documents that may assist the regulator in performing the regulator's functions—

(a) to provide, in accordance with the notice, that information to the regulator; or

(b) to produce those documents, in accordance with the notice, to the regulator or a person specified in the notice who is acting on the regulator's behalf; or

(c) to appear before the regulator at a time and place specified in the notice to provide that information, either orally or in writing, or produce those documents.

A notice under subsection (1) may be given to a permission holder by serving it in accordance with section 288.

(2) A person must not—

(a) refuse or fail to comply with a notice under subsection (1) to the extent that the person is capable of complying with it; or

(b) in purported compliance with a notice under subsection (1), knowingly provide information that is false or misleading; or

(c) obstruct or hinder the regulator in exercising a power under this section.

(3) Nothing in this section entitles or requires a person to provide information or produce a document—

(a) that is the subject of client legal privilege; or

(b) if its provision or production might tend to incriminate the person or make the person liable to a penalty.

(4) Any information provided or document produced by a person in compliance with a notice under subsection (1) is not admissible in evidence against the person in any proceedings other than proceedings under this section.

(5) If any documents are produced to the regulator under this section, the regulator may—

(a) inspect the documents or authorise a person to do so; or

(b) make copies of, or take extracts from, the documents and retain possession of those copies and extracts.

S. 265 inserted by No. 63/2017 s. 19.