Paragraph 1

United Kingdom

(1)

Subject to the following provisions of this Part of this Schedule, information which—

(a)

is restricted information for the purposes of this paragraph; and

(b)

relates to the business or other affairs of a relevant person,

shall not be disclosed without the consent of the person from whom the information was obtained and, if different, the person to whom it relates.

(2)

Subject to sub-paragraph (3) below, information is restricted information for the purposes of this paragraph if it was obtained by F1the Treasury or the Secretary of State for the purposes of, or in the discharge of, functions under this Act or any rules or regulations made under this Act (whether or not by virtue of any requirement to supply it made under those provisions).

(3)

Information is not restricted information for the purposes of this paragraph if—

(a)

it has been made available to the public from other sources, or

(b)

it is information in the form of a summary or is information so framed as not to enable information relating to any particular person to be ascertained from it.

(4)

The following are relevant persons for the purposes of this paragraph, namely—

(a)

any UK, EC or non-EC company F2or any member of Lloyd’s; and

(b)

any controller, manager, chief executive, general representative, agent or employee of such a company.

(5)

Any person who discloses information in contravention of this paragraph shall be guilty ofan offence and liable—

(a)

on conviction or indictment, to imprisonment for a term not exceeding two years or to a fine or to both;

(b)

on summary conviction, to imprisonment for a term not exceeding three months or to a fine not exceeding the statutory maximum or to both.

Annotations

Textual amendments

F1: Words in Sch. 2B para. 1(2) inserted (5.1.1998) by S.I. 1997/2781, art. 8, Sch. Pt. I para. 53 (with art. 7)
F2: Words in Sch. 2B para. 1(4)(a) inserted (30.12.1994) by S.I. 1994/3132, reg. 10(2)

Notes on the whole Act

Textual amendments

F1: Act repealed (1.12.2001) by The Financial Services and Markets Act 2000 (Consequential Amendments and Repeals) Order 2001 (S.I. 2001/3649), arts. 1, 3(1)(b)

Notes on Schedule 2B]

Textual amendments

F1: Sch. 2B inserted (1.7.1994) by S.I. 1994/1696, reg. 26(2), Sch. 2

Modifications

C1

Sch. 2B: Power to contract out functions conferred (18.11.1998) by S.I. 1998/2842, arts. 2, 3, Sch. Pt. I para. 57

Sch. 2B: functions to be exercised by the Secretary of State and the Treasury concurrently (5.1.1998) by S.I. 1997/2781, art. 4(1)(h) (with art. 7)

Notes on Part I

Modifications

C1: Sch. 2B Pt. I applied (with modifications) (1.7.1994) by S.I. 1994/1696, reg. 66(1)(2)