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Offence of refusing to answer question, etc.
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37.— (1) A person appearing before the Head of Financial Regulation in compliance with an evidentiary notice commits an offence if the person—
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(a) refuses or fails to give evidence in compliance with the evidentiary notice, or
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(b) refuses or fails to answer a question put to the person by the Head of Financial Regulation or in cross-examination with the permission of the Head of Financial Regulation.
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(2) Subsection (1) does not apply if the person has a reasonable excuse.
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(3) It is a reasonable excuse for the purposes of subsection (2) for a person to refuse or fail to answer a question that the answer might tend to incriminate the person.
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(4) Subsection (3) does not limit what is a reasonable excuse for the purposes of subsection (2).
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(5) If a person alleges that he or she has a reasonable excuse for refusing or failing to give evidence, or refusing or failing to answer a question, he or she shall provide a written statement setting out details of the excuse to the Head of Financial Regulation.
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(6) The Bank may have regard to the contents of a statement under subsection (5) for the purposes of the exercise of its powers and the performance of its functions under the Central Bank Acts 1942 to 2010.
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(7) A statement under subsection (5) is not admissible in evidence, against the person who made it, in proceedings in relation to an offence.
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