The Companies (Northern Ireland) Order 1989

Restrictions on disclosure of information

32.  After Article 16A of the Insider Dealing Order (inserted by Article 31 of this Order) there shall be inserted—

“Restrictions on disclosure of information

16B.— (1) Subject to paragraph (5), information which is restricted information for the purposes of this Article and relates to the business or other affairs of any person shall not be disclosed by a person mentioned in paragraph (3) (“the primary recipient”) or any person obtaining the information directly or indirectly from him without the consent of the person from whom the primary recipient obtained the information and if different, the person to whom it relates.

(2) Subject to paragraph (4), information is restricted information for the purposes of this Article if it was obtained by the primary recipient for the purposes of, or in the discharge of his functions under, this Order (whether or not by virtue of any requirement to supply it made under provisions of this Order).

(3) The persons mentioned in paragraph (1) are—

(a) the Department;

(b) any person appointed or authorised to exercise any powers under Article 16A; and

(c) any officer or servant of any such person.

(4) Information shall not be treated as restricted information for the purposes of this Article if it has been made available to the public by virtue of being disclosed in any circumstances in which or for any purpose for which disclosure is not precluded by this Article.

(5) Paragraph (1) shall not preclude the disclosure of information—

(a) for any of the purposes specified in paragraph (1) of Article 442 of the Companies (Northern Ireland) Order 1986 or to a competent authority within the meaning of paragraph (3) of that Article; or

(b) for the purposes of any public or other authority designated by an order under Article 442(1B) of that Order of 1986; or

(c) by a person to whom Article 442(1D) of that Order of 1986 applies.”.