111 Time limit for commencing proceedings
Building Societies Act 1986 (1986 c 53) | Legislation

111  Time limit for commencing proceedings

(1)     Notwithstanding any limitation on the time for the taking of proceedings contained in any Act, summary proceedings for any offence under this Act[, other than an offence in relation to which provision is made in subsection (1A),] may, subject to subsection (2) below, be commenced [by the FCA] at any time within the period of one year beginning with the date on which evidence sufficient [in its opinion] to justify a prosecution for the offence, comes to its knowledge.

[(1A)     Notwithstanding any limitation on the time for taking proceedings contained in any Act, summary proceedings for the offences under the provisions listed in subsection (1B), in the circumstances specified in that subsection in relation to those provisions, may be commenced by the PRA, after notifying the FCA, or by the FCA, after notifying the PRA, at any time within the period mentioned in subsection (1C).

(1B)     The provisions and the circumstances are—

(a)     section 52 (powers to obtain information and documents etc), if—

(i)     the failure referred to in subsection (10) of that section is a failure to furnish any information or accountant's report, to produce any documents or material, or to provide any explanation

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