15. In Article 445 (privileged information)—
(a)for paragraph (1) substitute—
“(1) Nothing in Articles 424 to 439 compels the disclosure by any person to the Department or to an inspector appointed by it of information in respect of which in an action in the High Court a claim to legal professional privilege could be maintained.”
(b)for paragraphs (2) and (3) substitute—
“(2) Nothing in Articles 440 to 444—
(a)compels the production by any person of a document or the disclosure by any person of information in respect of which in an action in the High Court a claim to legal professional privilege could be maintained;
(b)authorises the taking of possession of any such document which is in the person’s possession.
(3) The Department must not under Article 440 require, or authorise a person to require—
(a)the production by a person carrying on the business of banking of a document relating to the affairs of a customer of his, or
(b)the disclosure by him of information relating to those affairs,
unless one of the conditions in paragraph (4) is met.
(4) The conditions are—
(a)the Department thinks it is necessary to do so for the purpose of investigating the affairs of the person carrying on the business of banking;
(b)the customer is a person on whom a requirement has been imposed under Article 440;
(c)the customer is a person on whom a requirement to produce information or documents has been imposed by an investigator appointed by the Secretary of State in pursuance of section 171 or 173 of the Financial Services and Markets Act 2000 (c. 8) (powers of persons appointed under section 167 or as a result of section 168(2) to conduct an investigation).
(5) Despite paragraphs (1) and (2) a person who is a lawyer may be compelled to disclose the name and address of his client.”.