Part 5

Miscellaneous
Chapter 2

Provision of investigative assistance to overseas regulators

Authorisation of the provision of investigative assistance
322
1
This section makes provision about how the Secretary of State authorises R to assist O for the purposes of section 319(1)(c).
2
The Secretary of State may authorise R to assist O either—
a
in relation to one or more specific requests for assistance, or
b
generally in respect of requests for assistance of a particular description (including in respect of requests from particular overseas regulators).
3
The Secretary of State may withdraw any general authorisation given under subsection (2)(b).
4
The Secretary of State must publish—
a
any general authorisation given under subsection (2)(b);
b
notice of any withdrawal of a general authorisation under subsection (3).
5
In considering whether to authorise R to assist O (whether specifically or generally), the Secretary of State must have regard to whether—
a
O’s request for assistance is made under, or in accordance with, the terms of an arrangement or agreement (other than a qualifying cooperation arrangement) to which the United Kingdom is a party (and, where it is, the Secretary of State must also have regard to the terms of the arrangement or agreement);
b
it would be more appropriate, in relation to the matter in respect of which R’s assistance is requested, for—
i
any of R’s powers under the relevant enactment concerned to be exercised solely on behalf of R (and not by virtue of this Chapter), or
ii
for functions to be exercised by another person or body in the United Kingdom or in a country or territory other than the country or territory of O;
c
R assisting O would be contrary to the public interest.
6
In authorising R to assist O, the Secretary of State may impose conditions on R doing so.
7
The conditions that may be imposed include conditions—
a
requiring R, before assisting O, to obtain an undertaking from O that any information obtained by R in assisting O will not be used, or will only be used, for specified purposes;
b
requiring R not to use specified powers that would otherwise be available to R in assisting O;
c
requiring R to assist O by using specified powers available to R only in a specified manner;
d
requiring R to assist O only in respect of specified matters.
8
In subsection (7), “specified” means specified in a condition imposed by the Secretary of State under subsection (6).