{
  "url": "https://openlegislation.uk/insurance-companies-act-1982-repealed/schedule-2B/paragraph-3",
  "json_url": "https://openlegislation.uk/insurance-companies-act-1982-repealed/schedule-2B/paragraph-3.json",
  "legislation": "ukpga/1982/50",
  "legislation_title": "Insurance Companies Act 1982 (repealed)",
  "legislation_url": "https://openlegislation.uk/insurance-companies-act-1982-repealed",
  "path": "schedule/2B/paragraph/3",
  "kind": "paragraph",
  "number": "3",
  "heading": null,
  "text": "(1) Paragraph 1 above does not preclude the disclosure by the Treasury or the Secretary of State to any person specified in the first column of the following Table if the Treasury or, as the case may be, the Secretary of State considers that the disclosure would enable or assist that person to discharge the functions specified in relation to him in the second column of that Table.\nTABLE\nPerson\nFunctions\n1The Secretary of State.\nFunctions under the Companies Act, the Company Securities (Insider Dealing) Act 1985 , the Insolvency Act 1986 , the Company Directors Disqualification Act 1986 , the Financial Services Act 1986 , or Part II, III or VII of the Companies Act 1989 .\n1A The Financial Services Authority.\nFunctions under the Financial Services Act 1986 (other than as a designated agency within the meaning of that Act), the Banking Act 1987 or section 171 of the Companies Act 1989.\n2The Treasury.\nFunctions under the Financial Services Act 1986 or under Part III or VII of the Companies Act 1989.\n3An inspector appointed under Part XIV of the Companies Act or section 94 or 177 of the Financial Services Act 1986.\nFunctions under that Part or that section.\n4A person authorised to exercise powers under section 43A or 44 above, section 447 of the Companies Act, section 106 of the Financial Services Act 1986 or section 84 of the Companies Act 1989.\nFunctions under that section.\n5The Friendly Societies Commission, the Registrar of Friendly Societies for Northern Ireland and the Assistant Registrar of Friendly Societies for Scotland.\nFunctions under the enactments relating to friendly societies or under the Financial Services Act 1986.\n6The Industrial Assurance Commissioner or the Industrial Assurance Commissioner for Northern Ireland.\nFunctions under the enactments relating to industrial assurance.\n7The Building Societies Commission.\nFunctions under the Building Societies Act 1986 and protecting the interests of the shareholders and depositors of building societies.\nThe Occupational Pensions Regulatory Authority.\nFunctions under the Pension Schemes Act 1993 or the Pensions Act 1995, or any enactment in force in Northern Ireland corresponding to either of them.\n8The Director General of Fair Trading.\nFunctions under the Fair Trading Act 1973 except Part II, the Consumer Credit Act 1974 , the Restrictive Trade Practices Act 1976 , the Estate Agents Act 1979 , the Competition Act 1980 or the Control of Misleading Advertisements Regulations 1988 .\n9A designated agency (within the meaning of the Financial Services Act 1986).\nFunctions under that Act or Part VII of the Companies Act 1989.\n10A transferee body (within the meaning of the Financial Services Act 1986) or the competent authority (within the meaning of that Act).\nFunctions under that Act.\n11Any of the following (within the meaning of the Financial Services Act 1986), namely, a recognised self-regulating organisation, a recognised investment exchange, a recognised professional body and a recognised clearing house.\nFunctions in its capacity as a recognised self-regulating organisation, recognised investment exchange, recognised professional body or a recognised clearing house.\n12The Department of Economic Development in Northern Ireland.\nFunctions under enactments relating to companies or insolvency.\n13An inspector appointed by the Department of Economic Development in Northern Ireland under enactments relating to companies or insolvency.\nFunctions under those enactments.\n14A person authorised to exercise powers under Article 440 of the Companies (Northern Ireland) Order 1986 . . ..\nFunctions under that Article . . ..\n15An official receiver.\nFunctions under enactments relating to insolvency.\n16The Panel on Take-overs and Mergers.\nAll functions.\n17The Bank of England.\nAll functions.\n18A body administering a scheme under section 54 of the Financial Services Act 1986.\nFunctions under the scheme.\n19A body established by order under section 46 of the Companies Act 1989.\nFunctions under Part II of that Act.\n20A supervisory body (as defined in section 30 of the Companies Act 1989) or a qualifying body (as defined in section 32 of that Act).\nFunctions under that Act.\n. . ..\n. . ..\n22The Council of Lloyd’s, the Committee of Lloyd’s or the Disciplinary Committee or Appeal Tribunal established under the Lloyd’s Act 1982 .\nFunctions under the Lloyd’s Acts 1871 to 1982 and functions under bye-laws made under those Acts.\n23The Tribunal under the Prevention of Fraud (Investments) Act 1958 .\nFunctions under that Act.\n24The Monopolies and Mergers Commission.\nFunctions under the Fair Trading Act 1973 and the Competition Act 1980.\n25An auditor appointed under section 21 above, section 384 of the Companies Act 1985 or section 107 of the Financial Services Act 1986 or a person approved under section 108 of the Financial Services Act 1986.\nAll functions.\n26A recognised supervisory body (within the meaning of Part II of the Companies Act 1989 or Part III of the Companies (Northern Ireland) Order 1990).\nFunctions in its capacity as such a body under that Part, or functions in relation to disciplinary proceedings against auditors.\n27A recognised professional body (within the meaning of section 391 of the Insolvency Act 1986 or Article 350 of the Insolvency (Northern Ireland) Order 1989).\nFunctions in its capacity as such a body under that Act or that Order, or functions in relation to disciplinary proceedings against insolvency practitioners (within the meaning of that Act or that Order).\n28An actuary exercising functions under this Act.\nThose functions.\n29The Institute of Actuaries or the Faculty of Actuaries.\nSupervisory functions in relation to an actuary exercising functions under this Act.\n(2) Paragraph 1 above does not preclude the disclosure by any person specified in the first column of the Table in sub-paragraph (1) above of information obtained by him by virtue of that sub-paragraph if he makes the disclosure—\n(a) with the consent of the Treasury or the Secretary of State; and\n(b) for the purpose of enabling or assisting him to discharge any functions specified in relation to him in the second column of that Table;\nand before deciding whether to give consent to such a disclosure by any person the Treasury or, as the case may be, the Secretary of State shall take account of any representations made by that person as to the desirability of or the necessity for the disclosure.\n(3) Paragraph 1 above does not preclude—\n(a) the disclosure of information to the Treasury; or\n(b) the disclosure of information to the Secretary of State for purposes other than those specified in relation to him in sub-paragraph (1) above,\nif (in either case) disclosure is in accordance with Article 16(6) of the third general insurance Directive, or Article 15(6) of the third long term insurance Directive.\n(4) Paragraph 1 above does not preclude the disclosure of information for the purpose of enabling or assisting any public or other authority not specified in the first column of the Table in sub-paragraph (1) above to discharge any functions if disclosure is in accordance with Article 16 of the third general insurance Directive, or Article 15 of the third long term insurance Directive.\n(5) Paragraph 1 above does not preclude the disclosure of information for the purpose of enabling or assisting an authority in a country or territory outside the United Kingdom to exercise functions corresponding to those of—\n(a) the Bank of England;\n(b) the Secretary of State under this Act or the Financial Services Act 1986;\n(ba) the Treasury under this Act or, by virtue of article 2 of the Transfer of Functions (Insurance) Order 1997, under the Financial Services Act 1986;\n(c) the designated agency under that Act or rules or regulations made under that Act; or\n(d) the competent authority under Part IV of that Act. , or\n(e) the Financial Services Authority under that Act (other than in its capacity as a designated agency) or the Banking Act 1987;\n(6) Sub-paragraph (5) above does not apply in relation to disclosure to an authority which is not an authority in another member State unless the Treasury are or the Secretary of State is satisfied that the authority is subject to restrictions on further disclosures at least equivalent to those imposed by this Part of this Schedule.\n(7) Information which is disclosed to a person in pursuance of sub-paragraph (1) or (2) above shall not be used otherwise than for the purpose mentioned in that sub-paragraph.\n(8) Any person who uses information in contravention of sub-paragraph (7) above shall be liable on summary conviction to imprisonment for a term not exceeding three months or to a fine not exceeding level 5 on the standard scale or to both.\n(9) Subject to sub-paragraph (10) below, any reference in this paragraph to enabling or assisting any person to discharge or exercise any functions is a reference to enabling or assisting that person to discharge or exercise those functions in relation to—\n(a) a financial market; . . .\n(b) persons carrying on the business of banking or insurance, Consumer Credit Act businesses or the business of providing other financial services; or\n(c) persons involved in the operation of occupational pension schemes (within the meaning of the Pension Schemes Act 1993 or, in Northern Ireland, the Pension Schemes (Northern Ireland) Act 1993)\nand in this sub-paragraph “Consumer Credit Act business” has the same meaning as in the Banking Coordination (Second Council Directive) Regulations 1992 .\n(10) Sub-paragraph (9) above shall not apply in relation to references to enabling or assisting the discharge or exercise of the following functions, namely—\n(a) functions of the Secretary of State under Part XIV of the Companies Act 1985, Part XIII of the Insolvency Act 1986 or Part II of the Companies Act 1989 or, so far as relating to the breach of any law relating to companies, under section 83 of the Companies Act 1989;\n(b) functions of an inspector under Part XIV of the Companies Act 1985 or, so far as relating to offences involving securities of a company, under section 177 of the Financial Services Act 1986;\n(b) functions of a person authorised to exercise powers under section 84 of the Companies Act 1989, so far as relating to the breach of any law relating to companies;\n(d) functions of the Department of Economic Development in Northern Ireland under Part XV of the Companies (Northern Ireland) Order 1986, Part XII of the Insolvency (Northern Ireland) Order 1989 or Part III of the Companies (Northern Ireland) Order 1990;\n(e) functions of an inspector under Part XV of the Companies (Northern Ireland) Order 1986;\n(f) functions of a recognised professional body (within the meaning of section 391 of the Insolvency Act 1986 or Article 350 of the Insolvency (Northern Ireland) Order 1989);\n(g) functions of a recognised supervisory body (within the meaning of Part II of the Companies Act 1989 or Part III of the Companies (Northern Ireland) Order 1990).",
  "extent": "E+W+S+N.I.",
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "F",
      "label": "F1",
      "text": "Words in Sch. 2B para. 3(1) inserted (5.1.1998) by S.I. 1997/2781, art. 8, Sch. Pt. I para. 55(a)(i) (with art. 7)"
    },
    {
      "type": "F",
      "label": "F2",
      "text": "Words in Sch. 2B para. 3(1) inserted (5.1.1998) by S.I. 1997/2781, art. 8, Sch. Pt. I para. 55(a)(ii) (with art. 7)"
    },
    {
      "type": "F",
      "label": "F3",
      "text": "1985 c.8."
    },
    {
      "type": "F",
      "label": "F4",
      "text": "1986 c.45."
    },
    {
      "type": "F",
      "label": "F5",
      "text": "1986 c.46."
    },
    {
      "type": "F",
      "label": "F6",
      "text": "1986 c.60."
    },
    {
      "type": "F",
      "label": "F7",
      "text": "1989 c.40."
    },
    {
      "type": "F",
      "label": "F8",
      "text": "Entry 1A in the Table in Sch. 2B para. 3(1) inserted (1.6.1998) by 1998 c. 11, s. 23, Sch. 5 Pt. IV Ch. II para. 61(2); S.I. 1998/1120, art. 2"
    },
    {
      "type": "F",
      "label": "F9",
      "text": "1986 c.53."
    },
    {
      "type": "F",
      "label": "F10",
      "text": "Entry in the Table in Sch. 2B para. 3(1) inserted (6.4.1997) by 1995 c. 26, s. 122, Sch. 3 para. 11(1) (with s. 121(5)); S.I. 1997/664, art. 2(3), Sch. Pt. II"
    },
    {
      "type": "F",
      "label": "F11",
      "text": "1973 c.41."
    },
    {
      "type": "F",
      "label": "F12",
      "text": "1974 c.39."
    },
    {
      "type": "F",
      "label": "F13",
      "text": "1976 c.34."
    },
    {
      "type": "F",
      "label": "F14",
      "text": "1979 c.38."
    },
    {
      "type": "F",
      "label": "F15",
      "text": "1980 c.21."
    },
    {
      "type": "F",
      "label": "F16",
      "text": "S.I. 1988/915."
    },
    {
      "type": "F",
      "label": "F17",
      "text": "Words in entry 14 of the Table in Sch. 2B para. 3(1) omitted (18.7.1996) by virtue of S.I. 1996/1669, reg. 23, Sch. 5 para. 9"
    },
    {
      "type": "F",
      "label": "F18",
      "text": "Entry 21 of the Table in Sch. 2B para. 3(1) repealed (6.4.1997) by 1995 c. 26, s. 177, Sch. 7 Pt. III (with s. 121(5)); S.I. 1997/664, art. 2(3), Sch. Pt. II"
    },
    {
      "type": "F",
      "label": "F19",
      "text": "1982 c.xiv."
    },
    {
      "type": "F",
      "label": "F20",
      "text": "1958 c.45."
    },
    {
      "type": "F",
      "label": "F21",
      "text": "Entries 25-29 of the Table in Sch. 2B para. 3(1) substituted (18.7.1996) for Entry 25 by S.I. 1996/1669, reg. 20(1)"
    },
    {
      "type": "F",
      "label": "F22",
      "text": "Words in Sch. 2B para. 3(2)(a) inserted (5.1.1998) by S.I. 1997/2781, art. 8, Sch. Pt. I para. 55(b)(i) (with art. 7)"
    },
    {
      "type": "F",
      "label": "F23",
      "text": "Words in Sch. 2B para. 3(2) inserted (5.1.1998) by S.I. 1997/2781, art. 8, Sch. Pt. I para. 55(b)(ii) (with art. 7)"
    },
    {
      "type": "F",
      "label": "F24",
      "text": "Sch. 2B para. 3(5)(ba) inserted (5.1.1998) by S.I. 1997/2781, art. 8, Sch. Pt. I para. 55(c) (with art. 7)"
    },
    {
      "type": "F",
      "label": "F25",
      "text": "Sch. 2B para. 3(5)(e) and the word “or\" immediately preceding it inserted (1.6.1998) by 1998 c. 11, s. 23, Sch. 5 Pt. IV Ch. II para. 61(3); S.I. 1998/1120, art. 2"
    },
    {
      "type": "F",
      "label": "F26",
      "text": "Words in Sch. 2B para. 3(6) inserted (5.1.1998) by S.I. 1997/2781, art. 8, Sch. Pt. I para. 55(d) (with art. 7)"
    },
    {
      "type": "F",
      "label": "F27",
      "text": "Words in Sch. 2B para. 3(9) inserted (18.7.1996) by S.I. 1996/1669, reg. 20(2)"
    },
    {
      "type": "F",
      "label": "F28",
      "text": "Word in Sch. 2B after para. 3(9)(a) repealed (6.4.1997) by 1995 c. 26, ss. 122, 177, Sch. 3 para. 11(2), Sch. 7 Pt. I (with s. 121(5)); S.I. 1997/664, art. 2(3), Sch. Pt. II"
    },
    {
      "type": "F",
      "label": "F29",
      "text": "Sch. 2B para. 3(9)(c) and the word “or\" immediately preceding it added (6.4.1997) by 1995 c. 26, s. 122, Sch. 3 para. 11(2) (with s. 121(5)); S.I. 1997/664, art. 2(3), Sch. Pt. II"
    },
    {
      "type": "F",
      "label": "F30",
      "text": "S.I. 1992/3218."
    },
    {
      "type": "F",
      "label": "F31",
      "text": "Sch. 2B para. 3(10) inserted (18.7.1996) by S.I. 1996/1669, reg. 20(2)"
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/ukpga/1982/50/schedule/2B/paragraph/3",
    "retrieved_at": "2026-10-29T10:10:47.436123+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."
}