Financial Services Act 2012

Publication of reports U.K.

82 Publication of reports of inquiries and investigations U.K.

(1) This section applies where a report is made to the Treasury under section 71 or 79.

(2) Subject to subsection (3), the Treasury must publish the report in full.

(3) The Treasury may withhold material in the report from publication to such extent—

(a) as is required by any statutory provision [F1 (including any provision of [F2 assimilated direct] legislation)] or rule of law, or

(b) as the Treasury consider to be necessary in the public interest, having regard in particular to the matters mentioned in subsection (4).

(4) Those matters are—

(a) the extent to which withholding material might inhibit the allaying of public concern;

(b) the risk of harm or damage that could be avoided or reduced by withholding any material;

(c) any conditions of confidentiality subject to which any person acquired information that was given to the inquiry or used in the investigation.

(5) In subsection (4)(b) “harm or damage” includes in particular—

(a) damage to national security or international relations;

(b) damage to the economic interests of the United Kingdom or a part of the United Kingdom;

(c) damage caused by disclosure of commercially sensitive information.

(6) The Treasury must lay before Parliament whatever is published under subsection (2).

(7) If the Treasury receive a report under section 71 or 79, but withhold all or part of the material in the report from publication, they must publish and lay before Parliament a statement of their reasons for not publishing the report in full.

(8) Publication under subsection (2) or (7) is to be in such manner as the Treasury think fit.

(9) References to a report under section 71 or 79 include references to an interim report required under section 69 or 78.

Textual Amendments

F1 Words in s. 82(3)(a) substituted (31.12.2020) by The Deposit Guarantee Scheme and Miscellaneous Provisions (Amendment) (EU Exit) Regulations 2018 (S.I. 2018/1285), regs. 1(3), 4; 2020 c. 1, Sch. 5 para. 1(1)

F2 Words in s. 82(3)(a) substituted (1.1.2024) by The Retained EU Law (Revocation and Reform) Act 2023 (Consequential Amendment) Regulations 2023 (S.I. 2023/1424), reg. 1(2), Sch. para. 77(2)(a)

Commencement Information

I1 S. 82 in force at 1.4.2013 by S.I. 2013/423, art. 3, Sch.