203. Reports by skilled persons
(1) This section applies where the Regulator has required or could require a person to whom subsection (2) applies (the "Person Concerned") to provide information or produce Documents with respect to any matter (the "Matter Concerned").
(2) This subsection applies to —
(a) an Authorised Person or Recognised Body ("A");
(b) any other member of A's Group;
(c) a Partnership of which A is a member; or
(d) a person who has at any relevant time been a person falling within paragraph (a), (b) or (c);
who is, or was at the relevant time, carrying on a business.
(3) The Regulator may either —
(a) by notice in writing given to the Person Concerned, require the Person Concerned to provide the Regulator with a report on the Matter Concerned; or
(b) itself appoint a person to provide the Regulator with a report on the Matter Concerned.
(4) When acting under subsection (3)(a), the Regulator may require the report to be in such form as may be specified in the notice.
(5) The Regulator must give notice of an appointment under subsection (3)(b) to the Person Concerned.
(6) The person Appointed to make a report —
(a) must be a person appearing to the Regulator to have the skills necessary to make a report on the Matter Concerned; and
(b) where the appointment is to be made by the Person Concerned, must be a person nominated or approved by the Regulator.
(7) It is the duty of —
(a) the Person Concerned; and
(b) any person who is providing (or who has at any time provided) services to the Person Concerned in relation to the Matter Concerned;
to give the person Appointed to prepare a report such assistance as the Appointed person may reasonably require.
(8) The obligation imposed by subsection (7) is enforceable, on the application of the Regulator, by an injunction.
(9) The Regulator may make Rules providing for expenses incurred by it in relation to an appointment under subsection (3)(b) to be payable as a fee by the Person Concerned.