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119.—(1) The Authority, the Commissioners and the OFT must take such steps as they consider appropriate to co-operate with each other and—
(a)the competent authorities designated under Article 20(1), or referred to in Article 82(1), of the payment services directive, of EEA States other than the United Kingdom;
(b)the European Central Bank, the Bank of England and the national central banks of EEA States other than the United Kingdom; and
(c)any other relevant competent authorities designated under Community law or the law of the United Kingdom or any other EEA State which is applicable to payment service providers,
for the purposes of the exercise by those bodies of their functions under the payment services directive and other relevant Community or national legislation.
(2) Subject to the requirements of the Data Protection Act 1998(1), sections 348 and 349 of the 2000 Act (as applied with modifications by paragraph 5 of Schedule 5 to these Regulations), regulation 49A of the Money Laundering Regulations 2007(2) (as inserted by paragraph 6(g) of Schedule 6 to these Regulations) and any other applicable restrictions on the disclosure of information, the Authority, the Commissioners and the OFT may provide information to each other and—
(a)the bodies mentioned in paragraph (1)(a) and (c);
(b)the European Central Bank, the Bank of England and the national central banks of EEA States other than the United Kingdom when acting in their capacity as monetary and oversight authorities;
(c)where relevant, other public authorities responsible for the oversight of payment and settlement systems;
for the purposes of the exercise by those bodies of their functions under the payment services directive and other relevant Community or national legislation.
(3) Part 9 of the Enterprise Act 2002 does not prohibit disclosure by the OFT under paragraph (2) but the OFT must have regard to the considerations mentioned in section 244 of that Act (specified information: considerations relevant to disclosure) before making any such disclosure.
S.I. 2007/2157, amended by S.I. 2007/3299.
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