Explanatory note

This Order designates the person appointed by the Secretary of State to investigate and report on the discharge of certain regulatory functions as an authority for the purposes of section 180 of the Financial Services Act 1986 and section 449 of the Companies Act 1985 in relation to the functions of that person in his capacity as such. The effect of designation is to permit the disclosure of information which would otherwise be restricted if disclosure is for the purposes of enabling or assisting the designated authority to discharge the specified functions.