Section 84 Obstruction of investigations.C4 C1 C2

United Kingdom

(1)

Section 82 above does not preclude the disclosure by the F1Authority of information to any person specified in the first column of the following Table if the Authority considers that the disclosure would enable or assist that person to discharge the functions specified in relation to him in the second column of that Table.

Table

Person	Functions
C31.The Secretary of State.	Functions under the M1Insurance Companies Act 1982, Part XIV of the M2Companies Act 1985, Part XIII of the M3Insolvency Act 1986 F2, the Financial Services Act 1986 or Part II, III or VII of the Companies Act 1989.
2.F3The Treasury	Functions F4under the Insurance Companies Act 1982, under the Financial Services Act 1986 or under Part III or Part VII of the Companies Act 1989 .
3.F5An inspector appointed under Part XIV of the Companies Act 1985 or section 94 or 177 of the Financial Services Act 1986.	Functions under that Part or that section.
4.F6F7A person authorised to exercise powers under section 43A or 44 of the Insurance Companies Act 1982, section 447 of the Companies Act 1985, section 106 of the Financial Services Act 1986 or section 84 of the Companies Act 1989.	Functions under that section.
F84A The Bank of England.	Functions in its capacity as a monetary authority or supervisor of systems for the transfer of funds between credit institutions and their customers.
5.The Chief Registrar of friendly societies, F9. . . and the Assistant Registrar of Friendly Societies for Scotland.	Functions under the enactments relating to friendly societies . . ..
F105AF11The Friendly Societies Commission.	Functions under the enactments relating to friendly societies or under the Financial Services Act 1986.
6.The Industrial Assurance Commissioner and the Industrial Assurance Commissioner for Northern Ireland.	Functions under the enactments relating to industrial assurance.
7.The Building Societies Commission.	Functions under the M4Building Societies Act 1986 and protecting the interests of the shareholders and depositors of building societies.
8.The Director General of Fair Trading.	Functions under the M5Consumer Credit Act 1974.
9.F12A designated agency (within the meaning of the Financial Services Act 1986.	Functions under the Financial Services Act 1986 or Part VII of the Companies Act 1989.
10.A transferee body or the competent authority (within the meaning of the Financial Services Act 1986).	Functions under the Financial Services Act 1986.
11.A recognised self-regulating organisation, recognised professional body, recognised investment exchange, F13. . . or recognised self-regulating organisation for friendly societies (within the meaning of the Financial Services Act 1986).	Functions in its capacity as an organisation, body, F14or exchange recognised under the Financial Services Act 1986.
F1511AA recognised clearing house (within the meaning of the Financial Services Act 1986).	Functions in its capacity as a clearing house under the Financial Services Act 1986 so far as they are exercisable in relation to defaults or potential defaults by market participants.
11BA person approved under the F16Uncertificated Securities Regulations 2001 as an operator of a relevant system (within the meaning of those Regulations).	Functions as a person so approved so far as they are exercisable in relation to defaults or potential defaults by market participants.
11CA recognised supervisory body (within the meaning of Part II of the Companies Act 1989).	Functions in its capacity as such a body under that Part or functions in relation to disciplinary proceedings against auditors.
. . . F17	. . .
12.A recognised professional body (within the meaning of section 391 of the Insolvency Act 1986).	Functions in its capacity as such a body under the Insolvency Act 1986 F18or functions in relation to disciplinary proceedings against insolvency practitioners (within the meaning of that Act).
13.The Department of Economic Development in Northern Ireland.	Functions under Part XV of the Companies (Northern Ireland) Order M61986 F19or Part XII of the Insolvency (Northern Ireland) Order 1989F20or Part III of the Companies (Northern Ireland) Order 1990 or Part II or V of the Companies (No. 2) (Northern Ireland) Order 1990.
14.F21An inspector appointed under Part XV of the Companies (Northern Ireland) Order 1986 F22. . .	Functions under that Part . . ..
15.A person authorised to exercise powers under Article 440 of the Companies (Northern Ireland) Order 1986 F23. . ..	Functions under that Article . . ..
16.The Official Receiver or, in Northern Ireland, the Official F24Receiver for Northern Ireland	Investigating the cause of the failure of an authorised institution or former authorised institution in respect of which a winding-up order, or bankruptcy orderhas been made.
17.F25Panel on Take-overs and Mergers	All its functions
18.F26A person included in the list maintained by the F27Authority for the purposes of section 171 of the Companies Act 1989.	Functions under settlement arrangements to which regulations under that section relate.
19.F28A recognised professional body (within the meaning of Article 350 of the Insolvency (Northern Ireland) Order 1989).	Functions in its capacity as such a body under the Insolvency (Northern Ireland) Order 1989 F29or functions in relation to disciplinary proceedings against insolvency practitioners (within the meaning of that Order).
F3020A recognised supervisory body (within the meaning of Part III of the Companies (Northern Ireland) Order 1990).	Functions in its capacity as such a body under that Part, or functions in relation to disciplinary proceedings against auditors.
F3120. The Occupational Pensions Regulatory Authority.	Functions under the Pension Schemes Act 1993 or the Pensions Act 1995 or any enactment in force in Northern Ireland corresponding to either of them.
[F3221. The Operator within the meaning of the Uncertificated Securities Regulations 1992.]	[Functions of the Treasury under Parts IX, X, XII and XIV of the Uncertificated Securities Regulations 1992 which are for the time being delegated to the Operator. ]

(2)

The Treasury may after consultation with the F33Authority by order amend the Table in subsection (1) above by—

(a)

adding any person exercising regulatory functions and specifying functions in relation to that person;

(b)

moving any person for the time being specified in the Table; or

(c)

altering the functions for the time being specified in the Table in relation to any person;

and the Treasury may also after consultation with the Authority by order restrict the circumstances in which, or impose conditions subject to which, disclosure is permitted in the case of any person for the time being specified in the Table.

(3)

An order under subsection (2) above shall be subject to annulment in pursuance of a resolution of either House of Parliament.

(4)

Section 82 above does not preclude the disclosure by any person specified in the first column of the Table in subsection (1) above of information obtained by him by virtue of that subsection if he makes the disclosure with the consent of the Authority and for the purpose of enabling or assisting him to discharge any functions specified in relation to him in the second column of that Table; and before deciding whether to give its consent to such a disclosure by any person the Authority shall take account of such representations made by him as to the desirability of or the necessity for the disclosure.

F34(5)

Section 82 above does not preclude the disclosure by the Authority of information to the Treasury if disclosure appears to the Authority to be—

(a)

desirable or expedient in the interests of depositors; or

(b)

in the public interest,

and (in either case) in accordance with F35article 30(9) of the Banking Consolidation Directive.

(5A)

Section 82 above does not preclude the disclosure by the Authority of information to the Secretary of State for purposes other than those specified in relation to him in subsection (1) above if the disclosure is made with the consent of the Treasury and—

(a)

the information relates to an authorised institution or former authorised institution and does not enable the financial affairs of any other identifiable person to be ascertained and disclosure appears to the Authority to be necessary in the interests of depositors or in the public interest; or

(b)

in any other case, disclosure appears to the Authority to be necessary in the interests of depositors;

and (in either case) disclosure appears to the Authority to be in accordance with article 30(9) of the Banking Consolidation Directive.

(6)

Section 82 above does not preclude the disclosure of information for the purpose of enabling or assisting an authority in a country or territory outside the United Kingdom to exercise—

(a)

functions corresponding to those of—

(i)

the Authority under this Act F36or the Banking Coordination (Second Council Directive) Regulations 1992;

(ii)

the Secretary of State F37or the Treasuryunder the M7Insurance Companies Act 1982, Part XIII of the M8Insolvency Act 1986 or the M9Financial Services Act 1986; or

(iii)

the competent authority under Part IV of the Financial Services Act 1986;

(b)

functions in connection with rules of law corresponding to any of the provisions of F38Part V of the Criminal Justice Act 1993 (insider dealing) or Part VII of the M10Financial Services Act 1986; F39. . .

(c)

supervisory functions in respect of bodies carrying on business corresponding to that of building societies.

F40or

(d)
in the case of a supervisory authority in another EEA State, its functions as a supervisor of systems for the transfer of funds between credit institutions and their customers.

F41(7)

Subsection (6) above does not apply in relation to disclosures to an authority which is not a supervisory authority in another member State unless the Authority is satisfied that the authority is subject to restrictions on further disclosures at least equivalent to those imposed by this Part of this Act.

(8)

Information which is disclosed to a person in pursuance of subsection (1), (4) or (6) above shall not be used otherwise than for the purpose mentioned in that subsection.

(9)

Any person who uses information in contravention of subsection (8) above shall be liable on summary conviction to imprisonment for a term not exceeding three months or to a fine not exceeding the fifth level on the standard scale or to both.

(10)

F42Subject to subsection (11) below,Any reference in this section to enabling or assisting any person to discharge or exercise any functions is a reference to enabling or assisting that person to discharge or exercise those functions in relation to—

(a)

a financial market; F43. . .

(b)

persons carrying on the business of banking or insurance, Consumer Credit Act businesses or the business of providing other financial services; F44or

(c)

persons involved in the operation of occupational pension schemes (within the meaning of the Pension Schemes Act 1993 or, in Northern Ireland, the Pension Schemes (Northern Ireland) Act 1993)

and in this subsection ’Consumer Credit Act business’ has the same meaning as in the Banking Coordination (Second Council Directive) Regulations 1992.

F45(11)

Subsection (10) above shall not apply in relation to references to enabling or assisting the discharge or exercise of the following functions, namely—

(a)

functions of the Secretary of State under Part XIV of the Companies Act 1985, Part XIII of the Insolvency Act 1986 or Part II of the Companies Act 1989 or, so far as relating to the breach of any law relating to companies, under section 83 of the Companies Act 1989;

(b)

functions of an inspector under Part XIV of the Companies Act 1985 or, so far as relating to offences involving securities of a company, under section 177 of the Financial Services Act 1986;

(b)

functions of a person authorised to exercise powers under section 84 of the Companies Act 1989, so far as relating to the breach of any law relating to companies;

(d)

functions of a recognised clearing house (within the meaning of the Financial Services Act 1986);

(e)

functions of a person approved under the F46Uncertificated Securities Regulations 2001 as an operator of a relevant system (within the meaning of those Regulations);

(f)

functions of a recognised supervisory body (within the meaning of Part II of the Companies Act 1989);

(g)

functions of a recognised professional body (within the meaning of section 391 of the Insolvency Act 1986);

(h)

functions of the Department of Economic Development in Northern Ireland under Part XV of the Companies (Northern Ireland) Order 1986, Part XII of the Insolvency (Northern Ireland) Order 1989 or Part III of the Companies (Northern Ireland) Order 1990;

(i)

functions of an inspector under Part XV of the Companies (Northern Ireland) Order 1986;

(j)

functions of a recognised professional body (within the meaning of Article 350 of the Insolvency (Northern Ireland) Order 1989);

(k)

functions of a recognised supervisory body (within the meaning of Part III of the Companies (Northern Ireland) Order 1990);

(l)

functions of a supervisory authority in another EEA State in its capacity as a supervisor of systems for the transfer of funds between credit institutions and their customers.

(12)

In this section ’another EEA State’ means a State other than the United Kingdom which is a contracting party to the agreement on the European Economic Area signed at Oporto on 2nd May 1992 as adjusted by the Protocol signed at Brussels on 17th March 1993.

Annotations

Textual amendments

F1: Words in s. 84(1) substituted (1.6.1998) by 1998 c. 11, ss. 23, 42, Sch. 5 Pt. IV Ch. I para. 54(2) (with Sch. 8 para. 2); S.I. 1998/1120, art. 2
F2: Words in s. 84(1) Table substituted by Companies Act 1989 (c. 40, SIF 27), s. 81(2) (the substitution being in force, 21.2.1990 to the extent mentioned in S.I. 1990/142 art. 4(b) and 25.4.1991 otherwise as referred to in S.I. 1991/878, art. 2, Sch.)
F3: Entry in s. 84(1) Table inserted (7.6.1992) by S.I. 1992/1315, art. 10(1), Sch. 4, para. 11(1).
F4: Words in s. 84(1) Table entry no. 2 inserted (5.1.1998) by S.I. 1997/2781, art. 8(1), Sch. Pt. II para. 113
F5: Entry substituted by Companies Act 1989 (c. 40, SIF 27), s. 81(3)
F6: Entry substituted by Companies Act 1989 (c. 40, SIF 27), s. 81(4)
F7: Words in s. 84(1) Table entry no. 4 substituted (30.12.1994) by S.I. 1994/3132, reg. 11
F8: Entry no. 4A in Table in s. 84(1) inserted (1.6.1998) by 1998 c. 11, ss. 23, 42, Sch. 5 Pt. IV Ch. I para. 54(3) (with Sch. 8 para. 2); S.I. 1998/1120, art. 2
F9: Words in Table in s. 84(1) repealed (1.1.1994) by Friendly Societies Act 1992 (c. 40), s. 120(2), Sch. 22 (with ss. 7(5), 93(4)); S.I. 1993/2213, art. 2(1), Sch. 6 appendix.
F10: Entry in Table in s. 84(1) numbered 5A (18.7.1996) by S.I. 1996/1669, reg. 23, Sch. 5 para. 1(a)
F11: Entry in Table in s. 84(1) inserted (1.2.1993) by Friendly Societies Act 1992 (c. 40), s. 120(1), Sch. 21, Pt. I para. 9 (with ss. 7(5), 93(4)); S.I. 1993/16, art. 2, Sch. 3.
F12: Entries in s. 84(1) Table beginning 'A designated agency (within the meaning of the Financial Services Act 1986)' and 'A transferee body' substituted for entry beginning “designated agency or transferee body” by Companies Act 1989 (c. 40, SIF 27), s. 81(5) (the substitution being in force, 21.2.1990 to the extent mentioned in S.I. 1990/142, art. 4(b) and 25.4.1991 otherwise as referred to in S.I. 1991/878, art. 2, Sch.)
F13: Words in s. 84(1) Table entry no. 11 omitted (18.7.1996) by virtue of S.I. 1996/1669, reg. 5(2)(a)(6)
F14: Words in s. 84(1) Table entry no. 11 substituted (18.7.1996) by S.I. 1996/1669, reg. 5(2)(a)(6)
F15: S. 84(1) Table entries 11A-11C inserted (18.7.1996) by S.I. 1996/1669, reg. 5(2)(b)(6)
F16: Words in Table entry no. 11B in s. 84(1) substituted (26.11.2001) by S.I. 2001/3755, reg. 51, Sch. 7 Pt. 1 para. 13(a)
F17: Entry repealed by Companies Act 1989 (c. 40, SIF 27), s. 212, Sch. 24
F18: Words in s. 84(1) Table entry no. 12 inserted (18.7.1996) by S.I. 1996/1669, reg. 5(2)(c)(6)
F19: Words in s. 84(1) Table inserted (01.10.1991) by S.I. 1989/2405, (N.I. 19), art. 381(2), Sch. 9 para. 54(a); S.R. 1991/411, art. 2
F20: Words in s. 84(1) Table added (11.03.1991) save the words "or V" which came into force on 01.10.1991) by S.I. 1990/1504 (N.I. 10), art. 25(2); S.R. 1991/26, art. 2(2)(b); S.R. 1991/438, art. 2(a)
F21: Entry in s. 84(1) substituted (11.03.1991) by S.I. 1990/1504 (N.I. 10), art. 25(3); S.R. 1991/26, art. 2(2)
F22: Words in Table in s. 84(1) repealed (1.3.1994) by 1993 c. 36, s. 79(14), Sch. 6 Pt. I; S.I. 1994/242, art. 2, Sch.
F23: Words in s. 84(1) Table entry no. 15 omitted (18.7.1996) by virtue of S.I. 1996/1669, reg. 23, Sch. 5 para. 1(b)
F24: Words in s. 84(1) Table substituted (1.10.1991) by S.I. 1989/2405 (N.I. 19), art. 381(2), Sch. 9 para. 54(b)(i)(ii); S.R. 1991/411, art. 2
F25: The body known as the Panel on Take-overs and Mergers is added to the Table in s. 84 in relation to all its functions by S.I. 1987/1292, reg. 2
F26: Entry in s. 84(1) Table added (25.9.1991 for specified purposes and 4.7.1995 otherwise) by Companies Act 1989 (c. 40, SIF 27), s. 171(7); S.I. 1991/488, art. 2(2); S.I. 1995/1591, art. 2
F27: Word in s. 84(1) Table entry no. 18 substituted (1.6.1998) by 1998 c. 11, ss. 23, 42, Sch. 5 Pt. IV Ch. I para. 54(4) (with Sch. 8 para. 2); S.I. 1998/1120, art. 2
F28: Entry in s. 84(1) inserted (01.10.1991) by S.I. 1989/2405 (N.I. 19), art. 381(2), Sch. 9 para. 54(c); S.R. 1991/411, art. 2
F29: Words in s. 84(1) Table entry no. 19 inserted (18.7.1996) by S.I. 1996/1669, reg. 5(2)(d)(6)
F30: Entry no. 20 in Table in s. 84(1) inserted (18.7.1996) by S.I. 1996/1669, reg. 5(2)(e)(6)
F31: Entry no. 20 in Table in s. 84(1) added (6.4.1997) at the end by 1995 c. 26, s. 122, Sch. 3 para. 18(1) (with s. 121(5)); S.I. 1997/664, art. 2, Sch.
F32: Entry no. 21 in Table in s. 84(1) added (29.3.1993) by S.I. 1993/491, art. 2
F33: Words in s. 84(2)(4)(5)(5A)(6)(7) substituted (1.6.1998) by 1998 c. 11, ss. 23, 42, Sch. 5 Pt. IV Ch. I para. 54(5) (with Sch. 8 para. 2); S.I. 1998/1120, art. 2
F34: S. 84(5)(5A) substituted (1.1.1993) for s. 84(5) by S.I. 1992/3218, reg. 39(2) (with savings in reg. 46(b)).
F35: Words in s. 84(5)(5A) substituted (22.11.2000) by S.I. 2000/2952, reg. 5(6)
F36: Words in s. 84(6)(a)(i) inserted (1.1.1993) by S.I. 1992/3218, reg. 39(3) (with savings in reg. 46(b)).
F37: Words in s. 84(6)(a)(ii) inserted (7.6.1992) by S.I. 1992/1315, art. 10(1), Sch. 4 para. 11(2).
F38: Words in s. 84(6)(b) substituted (1.3.1994) by 1993 c. 36, s. 79(13), Sch. 5 Pt. I, para. 13; S.I. 1994/242, art. 2, Sch.
F39: Word in s. 84(6) omitted (18.7.1996) by virtue of S.I. 1996/1669, reg. 5(3)(6)
F40: S. 84(6)(d) and the word preceding it inserted (18.7.1996) by S.I. 1996/1669, reg. 5(3)(6)
F41: S. 84(7)-(10) inserted (1.1.1993) by S.I. 1992/3218, reg. 39(4) (with savings in reg. 46(b)).
F42: Words in s. 84(10) inserted (18.7.1996) by S.I. 1996/1669, reg. 5(4)(6)
F43: Word in s. 84(10) repealed (6.4.1997) by 1995 c. 26, s. 122, Sch. 3 para. 18(2), Sch. 7 Pt. I (with s. 121(5)); S.I. 1997/664, art. 2, Sch.
F44: S. 84(10)(c) and the word preceding it added (6.4.1997) by 1995 c. 26, s. 122, Sch. 3 para. 18(2) (with s. 121(5)); S.I. 1997/664, art. 2, Sch.
F45: S. 84(11)(12) inserted (18.7.1996) by S.I. 1996/1669, reg. 5(4)(6)
F46: Words in s. 84(11)(e) substituted (26.11.2001) by S.I. 2001/3755, reg. 51, Sch. 7 Pt. 1 para. 13(b)

Marginal citations

M1: 1982 c. 50.
M2: 1985 c. 6.
M3: 1986 c. 45.
M4: 1986 c. 53.
M5: 1974 c. 39.
M6: S.I 1986/1032 (N.I. 6).
M7: 1982 c. 50.
M8: 1986 c. 45.
M9: 1986 c. 60.
M10: 1986 c. 60.

Modifications

C1: S. 84 amended (1.1.1993) by S.I. 1992/3218, reg. 47, Sch. 8 para. 24.
C2: S. 84 modified (1.6.1998) by 1998 c. 11, s. 42, Sch. 8 paras. 2-5; S.I. 1998/1120, art. 2
C3: For the purpose of facilitating references to them, the entries in the Table in s. 84(1), were numbered 1-19 (1.1.1993) by S.I. 1992/3218, reg. 39(1).
C4: S. 84 modified by Companies Act 1989 (c. 40, SIF 27), s. 88(3)(b)

Notes on the whole Act

Textual amendments

F1

Act repealed (1.12.2001) by S.I. 2001/3649, arts. 1, 3(1)(d)

Act continued (with modifications) (1.12.2001) by S.I. 2001/2967, arts. 1(2), 9(1), Sch. 1 Pt. 1; S.I. 2001/3538 (as amended (1.4.2013) by S.I. 2013/472, arts. 1(1), 3, Sch. 2 para. 56(h)(i)); and specified provisions of Act applied, extended and amended (1.4.2003) so far as still in force by 2001 c. 16, ss. 50, 52-54, 57(1)(j)(4), 68, 138(2), Sch. 1 para. 43, Sch. 2 para. 16(2)(d); S.I. 2003/708, art. 2

Notes on Part V

Modifications

C1

Pt. V (ss. 82-87) modified (1.6.1998) by 1998 c. 11, s. 23, Sch. 5 Pt. IV Ch. I para. 57(2)(3)(4); S.I. 1998/1120, art. 2

Pt. V (ss. 82-87) modified (1.6.1998) by 1998 c. 11, ss. 23, 36(4), Sch. 5 Pt. IV Chapter I para. 57; S.I. 1998/1120, art. 2

Section 84 Obstruction of investigations.C4C1C2

Annotations

Textual amendments

Marginal citations

Modifications

Notes on the whole Act

Textual amendments

Notes on Part V

Modifications

Section 84 Obstruction of investigations.C4 C1 C2