796. (1) The F501[Authority may] exercise the powers conferred on him or her by this Part for the purpose of assisting a company law authority if—

(a) the F501[Authority] has received a request from that company law authority for assistance in connection with inquiries being carried out by it or on its behalf, and

(b) the F501[Authority] is satisfied that such assistance is for the purpose of the discharge by the authority of its supervisory or regulatory functions.

(2) The F501[Authority may] decline to accede to a request referred to in subsection (1) if—

(a) the F501[Authority] considers that it is not appropriate to give assistance, or

(b) the company law authority making the request does not undertake to make such contribution to the costs attendant on the request as the F501[ Authority] considers appropriate.

(3) In this section, “company law authority” means—

(a) an authority outside the State that performs functions of a supervisory or regulatory nature in relation to bodies corporate or undertakings or their officers; or

(b) a person acting on behalf of such an authority.