{
  "url": "https://openlegislation.uk/financial-institutions-prudential-supervision-regulations-1996/schedule-3/paragraph-7",
  "json_url": "https://openlegislation.uk/financial-institutions-prudential-supervision-regulations-1996/schedule-3/paragraph-7.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/3/paragraph/7",
  "kind": "paragraph",
  "number": "7",
  "heading": null,
  "text": "Notwithstanding paragraphs 2 to 5, Member States may authorise exchanges of information between the competent authorities and:\nthe authorities responsible for overseeing the bodies involved in the liquidation and bankruptcy of financial undertakings and other similar procedures, or\nthe authorities responsible for overseeing persons charged with carrying out statutory audits of the accounts of insurance undertakings, credit institutions, investment firms and other financial institutions.\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 of overseeing referred to in the first sub-paragraph,\ninformation received in this context shall be subject to the conditions of professional secrecy imposed in paragraph 2,\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.\nMember States shall communicate to the Commission and to the other Member States the names of the authorities which may receive information pursuant to 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/3/paragraph/7",
    "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."
}