Section 89L Restrictions on disclosure of confidential informationF1

United Kingdom

(1)

Sections 348, 349, 352 and 353 of the Financial Services and Markets Act 2000 (disclosure of information) apply for the purposes of this Part with the following modifications.

(2)

Section 348 of that Act has effect as if—

(a)

in subsection (2)(b), after “Act” there were inserted “or of the Bank of England under Part 1 of the Banking Act 2009 or the Bank Recovery and Resolution (No 2) Order 2014”,

(b)

in subsection (3)(a), at the end there were inserted “or the Banking Act 2009”, and

(c)

in subsection (5)—

(i)

after paragraph (c) there were inserted—

“F2(ca)
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(cb)
a resolution administrator appointed under Part 1 of the Banking Act 2009;
(F3cc)
a person appointed to make a report under section 83ZB of that Act (reports by skilled persons);”,

(ii)

in paragraph (e) for “to (c)” there were substituted “ F4to (cc) ”, and

(F5d)

after subsection (6)(b) there were inserted—

“(c)
a competent person appointed by the Bank of England under Chapter 4 of Part 1 of the Banking Act 2009.”

(3)

Section 349 of that Act has effect as if, in subsection (2)(c), for “or the PRA” substitute “the PRA, the Bank of England or a resolution administrator appointed by virtue of section 62B of the Banking Act 2009”.

(4)

Section 353 of that Act has effect as if in subsection (1)—

(a)

in paragraph (a), after “under this Act” there were inserted “or the Banking Act 2009”, and

(b)

in paragraph (b) after “to the” there were inserted “Bank of England, the”.

Annotations

Textual amendments

F1: Pt. 1 Ch. 6, 7 inserted (1.1.2015) by The Bank Recovery and Resolution Order 2014 (S.I. 2014/3329), arts. 1(2), 103
F2: Words in s. 89L(2)(c)(i) omitted (1.3.2017) by virtue of Bank of England and Financial Services Act 2016 (c. 14), s. 41(3), Sch. 2 para. 55 (with Sch. 3); S.I. 2017/43, reg. 2(g)
F3: Words in s. 89L(2)(c)(i) inserted (16.12.2016) by The Bank Recovery and Resolution Order 2016 (S.I. 2016/1239), arts. 1(2), 25(a)(i)
F4: Words in s. 89L(2)(c)(ii) substituted (16.12.2016) by The Bank Recovery and Resolution Order 2016 (S.I. 2016/1239), arts. 1(2), 25(a)(ii)
F5: S. 89L(2)(d): s. 89L(2)(c)(iii) renumbered as s. 89L(2)(d) (16.12.2016) by The Bank Recovery and Resolution Order 2016 (S.I. 2016/1239), arts. 1(2), 25(b)

Notes on Part 1

Modifications

C1: Pt. 1 restricted (7.1.2010) by Banking Act 2009 (Exclusion of Insurers) Order 2010 (S.I. 2010/35), arts. 1, 2
C2: Pt. 1: power to amend conferred (1.3.2014) by Financial Services (Banking Reform) Act 2013 (c. 33), ss. 17(3)(f), 148(5); S.I. 2014/377, art. 2(1)(b), Sch. Pt. 2