(1)Section 348 does not prevent a disclosure of confidential information which is—
(a)made for the purpose of facilitating the carrying out of a public function; and
(b)permitted by regulations made by the Treasury under this section.
(2)The regulations may, in particular, make provision permitting the disclosure of confidential information or of confidential information of a prescribed kind—
(a)by prescribed recipients, or recipients of a prescribed description, to any person for the purpose of enabling or assisting the recipient to discharge prescribed public functions;
(b)by prescribed recipients, or recipients of a prescribed description, to prescribed persons, or persons of prescribed descriptions, for the purpose of enabling or assisting those persons to discharge prescribed public functions;
(c)by the Authority to the Treasury or the Secretary of State for any purpose;
(d)by any recipient if the disclosure is with a view to or in connection with prescribed proceedings.
(3)The regulations may also include provision—
(a)making any permission to disclose confidential information subject to conditions (which may relate to the obtaining of consents or any other matter);
(b)restricting the uses to which confidential information disclosed under the regulations may be put.
(4)In relation to confidential information, each of the following is a “recipient”—
(a)a primary recipient;
(b)a person obtaining the information directly or indirectly from a primary recipient.
(5)“Public functions” includes—
(a)functions conferred by or in accordance with any provision contained in any enactment or subordinate legislation;
(b)functions conferred by or in accordance with any provision contained in the Community Treaties or any Community instrument;
(c)similar functions conferred on persons by or under provisions having effect as part of the law of a country or territory outside the United Kingdom;
(d)functions exercisable in relation to prescribed disciplinary proceedings.
(6)“Enactment” includes—
(a)an Act of the Scottish Parliament;
(b)Northern Ireland legislation.
(7)“Subordinate legislation” has the meaning given in the M1Interpretation Act 1978 and also includes an instrument made under an Act of the Scottish Parliament or under Northern Ireland legislation.
[F1(8)Section 348 has effect subject to regulation 18(1) of the Takeovers Directive (Interim Implementation) Regulations 2006.]
Textual Amendments
F1S. 349(8) inserted (20.5.2006) by The Takeovers Directive (Interim Implementation) Regulations 2006 (S.I. 2006/1183), reg. 18(5)
Modifications etc. (not altering text)
C1S. 349 extended (1.12.2001) by S.I. 2001/3648, arts. 1, 3(2), 4, 5(2), 7(2)
S. 349 modified (17.8.2001 for certain purposes otherwise 1.12.2001) by 1986 c. 53, s. 53A as substituted (17.8.2001 for certain purposes otherwise 1.12.2001) by S.I. 2001/2617, arts. 2, 8, 13(1), Sch. 3 Pt. II para. 152; S.I. 2001/3538, art. 2(1)
S. 349 modified (17.8.2001 for certain purposes otherwise 1.12.2001) by 1992 c. 40 (as substituted (17.8.2001 for certain purposes otherwise 1.12.2001) by S.I. 2001/2617, arts. 2, 8, 13(1), Sch. 3 Pt. I para. 78; S.I. 2001/3538, art. 2(1)
C2S. 349 applied (20.4.2003) by The Insurers (Reorganisation and Winding Up) Regulations 2003 (S.I. 2003/1102), regs. 16(2), 50(3) (with reg. 3)
C3S. 349 modified (20.4.2003) by The Insurers (Reorganisation and Winding Up) Regulations 2003 (S.I. 2003/1102), reg. 50(4) (with reg. 3)
C4S. 349 applied (18.2.2004) by The Insurers (Reorganisation and Winding Up) Regulations 2004 (S.I. 2004/353), reg. 16(2)(3) (with reg. 3)
C5S. 349 applied (with modifications) (18.2.2004) by The Insurers (Reorganisation and Winding Up) Regulations 2004 (S.I. 2004/353), reg. 50(3)-(6) (with reg. 3)
C6S. 349 applied (with modifications) (5.5.2004) by The Credit Institutions (Reorganisation and Winding up) Regulations 2004 (S.I. 2004/1045), regs. 18, 38
Commencement Information
I1S. 349 wholly in force at 18.6.2001; s. 349 not in force at Royal Assent see s. 431(2); s. 349 in force for certain purposes at 25.2.2001 by S.I. 2001/516, art. 2(b), Sch. Pt. 2; s. 349 in force in so far as not already in force at 18.6.2001 by S.I. 2001/1820, art. 2, Sch.
Marginal Citations