(1)In making any report under this Act the Commission or the Director shall have regard to the need for excluding, so far as that is practicable—
(a)any matter which relates to the private affairs of an individual, where the publication of that matter would or might, in the opinion of the Commission or the Director, as the case may be, seriously and prejudicially affect the interests of that individual, and
(b)any matter which relates specifically to the affairs of a body of persons, whether corporate or unincorporate, where publication of that matter would or might, in the opinion of the Commission or the Director, as the case may be, seriously and prejudicially affect the interests of that body, unless in the opinion of the Commission or the Director, as the case may be, the inclusion of that matter relating specifically to that body is necessary for the purposes of the report.
(2)For the purposes of the law relating to defamation, absolute privilege shall attach to any report of the Commission or of the Director under this Act.