I do not want to impede proceedings that are moving along briskly. However, perhaps I could just say that the clause replicates section 101(5) of the Pensions Act 1995 and ensures that the provision of false information to the regulator continues to be a criminal offence. It is useful to get that on record in Hansard. The regulator may issue a summons in respect of anyone providing false information and would have to prove to the court's satisfaction that that information was provided knowingly or recklessly. If someone is found guilty by a magistrates court, a fine of up to £5,000 can be imposed; if the matter is heard by the Crown court, imprisonment of up to two years, a fine of £5,000 or both may be imposed.
Question put and agreed to.
Clause 54 ordered to stand part of the Bill.