Part V

Regulation of Friendly Societies’ Business

Information

Exceptions from restrictions on disclosure.
64
1
Information which is restricted information for the purposes of section 63 above may be disclosed—
a
to any person with a view to the institution of, or otherwise for the purposes of, relevant proceedings;
b
if it is information which is or has been available to the public from other sources;
c
in the form of a summary or collection of information so framed as not to enable information related to any particular body or person to be ascertained from it;
d
to the extent that it is information which is provided for the purpose, under any provision of this Act or the 1974 Act, of its being made available to the public in any manner;
e
in pursuance of any Community obligation;
f
for the purpose of facilitating the discharge by the Commission, the Chief Registrar or the central office of any of their functions under this Act or the 1974 Act;
g
to the Treasury, if the disclosure is made for the purpose of facilitating the discharge of any functions of the Treasury under this Act or the 1974 Act or otherwise in the interests of members of friendly societies or in the public interest;
h
for the purpose of enabling or assisting any person appointed investigator under section 65 below or inspector under section 66 below to discharge his duties under that section; or
i
for the purpose of facilitating the discharge by the auditors of a friendly society of their duties to the Commission.
2
For the purposes of subsection (1)(a) above “relevant proceedings” are—
a
any criminal proceedings;
b
any civil proceedings by or at the relation of or against the Commission or the Chief Registrar arising out of the discharge of any of their functions under this Act or the 1974 Act;
c
any disciplinary proceedings relating to—
i
the exercise by a solicitor, auditor, accountant, actuary or valuer of his professional duties;
ii
the discharge by a public servant of his duties;
and in paragraph (c) above “public servant” means an officer or servant of the Crown (including an officer or servant of the Crown in right of Her Majesty’s Government in Northern Ireland) or of any public or other authority designated for the purpose by order made by the Treasury.
3
Nothing in section 63 above prohibits the disclosure of information to the Secretary of State or the Department of Economic Development in Northern Ireland in circumstances where it is desirable or expedient—
a
that the information should be disclosed in the interests of members of a friendly society or in the public interest; or
b
it is desirable or expedient that the information should be disclosed for the purpose of facilitating the discharge—
i
by the Secretary of State, of any functions of his under the enactments relating to companies, insurance companies, or insolvency or under the Financial Services Act 1986 or any provision of Parts II, III or VII of the Companies Act 1989; or
ii
by the Department, of any of its functions relating to companies or insolvency, or under Part III of the Companies (Northern Ireland) Order 1990 or Part II or V of the Companies (No. 2) (Northern Ireland) Order 1990;
nor does that section prohibit further disclosure of the information by the Secretary of State or the Department with the consent of the Commission.
3A
Nothing in section 63 above prohibits the disclosure of information to the Treasury in circumstances where it is desirable or expedient that the information should be disclosed for the purpose of facilitating the discharge by the Treasury of any functions of theirs
under the enactments relating to insurance companies,
under the Financial Services Act 1986 or under Part III or Part VII of the Companies Act 1989 nor does that section prohibit further disclosure of the information by the Treasury with the consent of the Commission.
4
Nothing in section 63 above prohibits the disclosure of information to an authority mentioned in subsection (5) below (a “relevant authority") in circumstances where, in the opinion of the Commission, it is desirable or expedient that the information should be disclosed—
a
in the interests of members of a friendly society or in the public interest; or
b
with a view to facilitating the discharge by the authority, of any functions of the authority (including functions in relation to proceedings) mentioned in that subsection (“relevant functions”);
nor does that section prohibit further disclosure of the information, with the consent of the Commission.
5
The relevant authorities mentioned in subsection (4) above and the relevant functions in relation to each such authority, are as follows—
Authority | Functions
1. An inspector appointed under Part XIV of the Companies Act 1985, Part XV of the Companies (Northern Ireland) Order 1986 or section 94 or 177 of the Financial Services Act 1986. | Functions under that Part or that section or Article.
2. A person authorised to exercise powers under section 44 of the Insurance Companies Act 1982, section 447 of the Companies Act 1985, section 106 of the Financial Services Act 1986 or section 84 of the Companies Act 1989 or Article 440 of the Companies (Northern Ireland) Order 1986. | Functions under that section or Article.
3.The Policyholders Protection Board. | Functions under the Policyholders Protection Act 1975.
4.A designated agency within the meaning of the Financial Services Act 1986. | Functions under that Act or Part VII of the Companies Act 1989.
5.A transferee body or the competent authority within the meaning of the Financial Services Act 1986. | Functions under that Act.
6.A body administering a scheme under section 54 of the Financial Services Act 1986. | Functions under the scheme.
7.A recognised self-regulating organisation, recognised professional body, recognised investment exchange, recognised clearing house, or recognised self-regulating organisation for friendly societies (within the meaning of the Financial Services Act 1986). | Functions in its capacity as an organisation, body, exchange or clearing house recognised under that Act.
8.The Bank of England. | Any of its functions
The Financial Services Authority. | Functions under the Financial Services Act 1986 (other than as a designated agency within the meaning of that Act), the Banking Act 1987 or section 171 of the Companies Act 1989.
9. A body established by order under section 46 of the Companies Act 1989. | Functions under Part II of that Act.
10. A recognised supervisory or qualifying body (within the meaning of Part II of the Companies Act 1989 or Part III of the Companies (Northern Ireland) Order 1990). . | Functions as such a body or functions in relation to disciplinary proceedings against auditors.
11.The Industrial Assurance Commissioner for Northern Ireland. | Functions under the enactments relating to industrial assurance.
. . .. | . . ..
13.The Official Receiver or the Official Receiver for Northern Ireland. | Functions under the enactments relating to insolvency.
14A recognised professional body (within the meaning of section 391 of the Insolvency Act 1986 or Article 350 of the Insolvency (Northern Ireland) Order 1989). | Functions in its capacity as such a body under that Act or that Order or functions in relation to disciplinary proceedings against insolvency practitioners (within the meaning of that Act or that Order).
15.The Building Societies Commission. | Functions under the Building Societies Act 1986.
The Occupational Pensions Regulatory Authority. | Functions under the Pension Schemes Act 1993 or the Pensions Act 1995 or any enactment in force in Northern Ireland corresponding to either of them.
16.The Director-General of Fair Trading. | Functions under the Financial Services Act 1986.
17An actuary exercising functions under this Act. | Those functions.
18The Institute of Actuaries or the Faculty of Actuaries. | Supervisory functions in relation to actuaries exercising functions under this Act.
6
The Commission, with the consent of the Treasury, may by order—
a
amend the Table in subsection (5) above so as to—
i
add any public or other authority to the Table and specify the relevant functions of that authority;
ii
remove any authority from the Table; or
iii
add functions to, or remove functions from, those which are relevant functions in relation to an authority specified in the Table;
b
restrict the circumstances in which information may, by virtue of subsection (4) above, be disclosed or further disclosed; and
c
impose conditions subject to which the information may be disclosed or further disclosed.
7
Nothing in section 63 above prohibits the disclosure to an overseas regulatory authority of information for the purpose of assisting that authority in the discharge of its functions.
7A
In the case of restricted information which relates to the business or other affairs of a friendly society to which section 37(2) or (3) above applies, no disclosure may be made by virtue of subsection (1), (3), (4) or (7) above unless the disclosure appears to be in accordance with–
a
Article 16 of the third general insurance Directive; or
b
Article 15 of the third life Directive.
8
In this section—
- “authority” includes any body (corporate or unincorporate) which is charged with the regulation of the carrying on of any description of financial or insurance business or the practice of any profession to which the carrying on of such business is incidental;
- “overseas regulatory authority” means any government department or public or other authority in a country or territory outside the United Kingdom which is charged under the law of that country or territory with the regulation of companies, insurance companies, financial services, banking or any business corresponding to the business which may be carried on by friendly societies (or their subsidiaries); and
- “regulation”, in relation to any public or other authority, means regulation in the public interest or for the protection of private interests.
S. 63A substituted (17.8.2001 for specified purposes and otherwise 1.12.2001) for ss. 63, 64 by S.I. 2001/2617, arts. 2, 8(1), 13(1), Sch. 3 para. 78 (with art. 13(3), Sch. 5); S.I. 2001/3538, art. 2(1)
S. 64 amended (temp. from 3.9.2001 until 30.11.2001) by S.I. 2001/2966, art. 9
S. 64 wholly in force; s. 64 not in force at Royal Assent see s. 126(2); s. 64 in force for certain purposes at 13.1.1993 by S.I. 1993/16, art. 2, Sch. 1; s. 64 in force for all remaining purposes at 28.4.1993 by S.I. 1993/1186, art. 2(2), Sch. 2
1986 c. 60.
1989 c. 40.
S.I. 1990/593 (N.I. 5).
S.I. 1990/1504 (N.I. 10).
S. 64(3A) inserted (7.6.1992) by S.I. 1992/1315, art. 10(1), Sch. 4 para. 14.
Words in s. 64(3A) inserted (5.1.1998) by S.I. 1997/2781, art. 8(1), Sch. Pt. II para. 118(with art. 7)
Entries in table in s. 64(5) numbered 1-16 (18.7.1996) by S.I. 1996/1669, reg. 16(1)
S. 64(5): words in the entry relating to the Bank of England substituted (1.6.1998) by 1998 c. 11, s. 23, Sch. 5 Pt. IV Ch. II para. 68; S.I. 1998/1120, art. 2
S. 64(5); entry relating to The Financial Services Authority inserted (1.6.1998) by 1998 c. 11, s. 23, Sch. 5 Pt. IV Ch. II para. 68; S.I. 1998/1120, art. 2
Entry 10 in s. 64(5) has been substituted (18.7.1996) by S.I. 1996/1669, reg. 16(2)(a) (with saving in s. 16(3))
Entry in the Table of s. 64(5) omitted (30.4.2001) by virtue of S.I. 2001/1283, art. 3(6)
Entry 14 in s. 64(5) substituted (18.7.1996) by S.I. 1996/1669, reg. 16(2)(b) (with saving in s. 16(3)
Entry after 15 in s. 64(5) inserted (E.W.S.) (6.4.1997) by 1995 c. 26 s. 122, Sch. 3, para. 20 (with s. 121(5)); S.I. 1997/664, art. 2(3), Sch. Pt II
Entries 17 and 18 in s. 64(5) inserted (18.7.1996) by S.I. 1996/1669, reg. 16(2)(c) (with saving in s. 16(3))
S. 64(7A) inserted (1.9.1994) by S.I. 1994/1984, reg. 18