(16)Clauses 26 and 27 of Schedule 28 of the FMC Regulations require a licensed benchmark administrator to create and maintain records that enable the licensee to demonstrate compliance with their licence obligations and to provide records to the FMA on receipt of a written notice from the FMA. Sections 25 to 28 of the FMA Act also provide the FMA with information gathering powers to enable it to assess licensees’ compliance with the FMC Act. Those provisions allow the FMA to serve notices on benchmark administrators requiring them to supply, produce or reproduce any information specified in the notice, or appear before the FMA to give evidence.