(1) This section applies if it appears to the Bank of England that there are circumstances suggesting that a person may have failed to comply with any relevant requirement.
(2) The Bank may appoint one or more competent persons to conduct an investigation on its behalf.
(3) In this section "relevant requirement" means -
(a) a requirement imposed by the Bank of England under this Part (other than section 83ZR (regulatory sanctions)), or
(b) a requirement imposed by or under -
(i) any other provision of this Act, or
(ii) any other Act or subordinate legislation,
which, immediately before IP completion day, gave effect to the recovery and resolution directive.