Prudential Regulation Authority Rulebook

13

If the PRA is satisfied that it is appropriate to give notice inwriting before imposing a information requirement, the recipient of the notice will have the right to make representations to the PRA. The PRA will specify in the notice a reasonable period in which to make representations and will determine a reasonable period for representations taking into account all the circumstances. The PRA will generally invite the recipient of a notice to make representations in writing to the address provided in the notice. In determining the period for representations the PRA will take into account the following:

1. (a) the nature, type and amount of information likely to be required;
2. (b) the reasons for imposing the information requirement;
3. (c) whether the person is likely to wish to seek legal advice;
4. (d) whether the person is an authorised person; and
5. (e) any cost implications for the person.

14

The PRA will consider a request by a person to make oral representations and will take into account whether oral representations would be likely to:

1. (a) improve the PRA's understanding of the representations;
2. (b) be more convenient or less costly than written representations; and
3. (c) assist the PRA in making a decision more quickly.

15

In accordance with the Disability Discrimination Act 1995, the PRA will take into account any reason relating to the disability of the person which would mean that they could not otherwise have a fair hearing.

16

Once the period for making representations has expired the PRA will determine within a reasonable period whether to impose the information requirement. If the PRA does not receive any representations during the period specified in the notice it will determine whether to impose the information requirement based on the information available to it.