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5.—(1) The circumstances in which information may, by virtue of section 53(8) of the Act, be disclosed to a prescribed regulatory authority are circumstances where it is in the opinion of the Commission desirable or expedient that the information should be disclosed with a view to—
(a)facilitating the discharge by the Commission of any of its functions under the Act, or
(b)facilitating the discharge by the prescribed regulatory authority of its functions specified as prescribed functions in article 4 above.
(2) The circumstances in which information may, by virtue of section 53(8) of the Act and subject to the consent of the Commission under that subsection, be further disclosed by a prescribed regulatory authority are circumstances where it is in the opinion of the prescribed regulatory authority desirable or expedient that the information should be further disclosed with a view to enabling or assisting it to discharge its functions specified as prescribed functions in article 4 above.
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