{
  "url": "https://openlegislation.uk/financial-institutions-prudential-supervision-regulations-1996/schedule-2/paragraph-5b",
  "json_url": "https://openlegislation.uk/financial-institutions-prudential-supervision-regulations-1996/schedule-2/paragraph-5b.json",
  "legislation": "uksi/1996/1669",
  "legislation_title": "The Financial Institutions (Prudential Supervision) Regulations 1996",
  "legislation_url": "https://openlegislation.uk/financial-institutions-prudential-supervision-regulations-1996",
  "path": "schedule/2/paragraph/5b",
  "kind": "paragraph",
  "number": "5b",
  "heading": null,
  "text": "Notwithstanding paragraphs 1 to 4, Member States may, with the aim of strengthening the stability, including integrity, of the financial system, authorise the exchange of information between the competent authorities and the authorities or bodies responsible under the law for the detection and investigation of breaches of company law.\nMember States which have recourse to the option provided for in the first sub-paragraph shall require at least that the following conditions are met:\nthe information shall be for the purpose of performing the task referred to in the first sub-paragraph,\ninformation received in this context shall be subject to the conditions of professional secrecy imposed in paragraph 1,\nwhere the information originates in another Member State, it may not be disclosed without the express agreement of the competent authorities which have disclosed it and, where appropriate, solely for the purposes for which those authorities gave their agreement.\nWhere, in a Member State, the authorities or bodies referred to in the first sub-paragraph perform their task of detection or investigation with the aid, in view of their specific competence, of persons appointed for that purpose and not employed in the public sector, the possibility of exchanging information provided for in the first sub-paragraph may be extended to such persons under the conditions stipulated in the second sub-paragraph.\nIn order to implement the final indent of the second sub-paragraph, the authorities or bodies referred to in the first sub-paragraph shall communicate to the competent authorities which have disclosed the information, the names and precise responsibilities of the persons to whom it is to be sent.\nMember States shall communicate to the Commission and to the other Member States the names of the authorities or bodies which may receive information pursuant to this paragraph.\nBefore 31 December 2000, the Commission shall draw up a report on the application of the provisions of this paragraph.",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/uksi/1996/1669/schedule/2/paragraph/5b",
    "retrieved_at": "2026-10-29T12:40:24.499118+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}