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Version status: Repealed | Document consolidation status: Updated to reflect all known changes
Version date: 19 December 2012 - onwards
  Version 4 of 4    

41. Power to investigate business activities of building societies and related bodies.

Repealed from 19 December 2012

(1) A responsible authority may authorise in writing a qualified person to investigate the business of a building society or a related body, or any aspect of that business, and to report to the Bank on the outcome of the investigation.

(2) An authorised person may, at any reasonable time on production of evidence of the person's authorisation, enter the premises of a society or a related body for the purpose of carrying out such an investigation.

(3) An authorised person who has entered premises in accordance with subsection (2) may do all or any of the following:

(a) inspect the premises;

(b) request any person on the premises who apparently has control of, or access to, documents or material relating to the business of the society or body concerned to produce the documents or material to the authorised person for inspection;

(c) inspect documents and material so produced, or found in the course of inspecting the premises, and, in the case of documents, take copies of them or of

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