Source: http://www.legislation.gov.uk/ukpga/2000/8/part/XXIII/2001-06-21
Timestamp: 2019-04-20 19:36:27
Document Index: 438093870

Matched Legal Cases: ['art. 2', 'art. 2', 'art. 2', 'art. 2', 'art. 2', 'art. 2', 'art. 2', 'art. 2', 'art. 2', 'art. 2', 'art. 2', 'art. 2', 'art. 2', 'art. 2', 'art. 2', 'art. 2', 'art. 2', 'art. 2', 'art. 2', 'art. 2', 'art. 2', 'art. 2', 'art. 2']

Part XXIIIE+W+S+N.I. Public Record, Disclosure of Information and Co-operation
Valid from 01/08/2001
The public recordE+W+S+N.I.
347 The record of authorised persons etc.E+W+S+N.I.
(1)The Authority must maintain a record of every—
(a)person who appears to the Authority to be an authorised person;
(b)authorised unit trust scheme;
(c)authorised open-ended investment company;
(d)recognised scheme;
(e)recognised investment exchange;
(f)recognised clearing house;
(g)individual to whom a prohibition order relates;
(h)approved person; and
(i)person falling within such other class (if any) as the Authority may determine.
(2)The record must include such information as the Authority considers appropriate and at least the following information—
(a)in the case of a person appearing to the Authority to be an authorised person—
(i)information as to the services which he holds himself out as able to provide; and
(ii)any address of which the Authority is aware at which a notice or other document may be served on him;
(b)in the case of an authorised unit trust scheme, the name and address of the manager and trustee of the scheme;
(c)in the case of an authorised open-ended investment company, the name and address of—
(ii)if it has only one director, the director; and
(iii)its depositary (if any);
(d)in the case of a recognised scheme, the name and address of—
(i)the operator of the scheme; and
(ii)any representative of the operator in the United Kingdom;
(e)in the case of a recognised investment exchange or recognised clearing house, the name and address of the exchange or clearing house;
(f)in the case of an individual to whom a prohibition order relates—
(i)his name; and
(ii)details of the effect of the order;
(g)in the case of a person who is an approved person—
(ii)the name of the relevant authorised person;
(iii)if the approved person is performing a controlled function under an arrangement with a contractor of the relevant authorised person, the name of the contractor.
(3)If it appears to the Authority that a person in respect of whom there is an entry in the record as a result of one of the paragraphs of subsection (1) has ceased to be a person to whom that paragraph applies, the Authority may remove the entry from the record.
(4)But if the Authority decides not to remove the entry, it must—
(a)make a note to that effect in the record; and
(b)state why it considers that the person has ceased to be a person to whom that paragraph applies.
(a)make the record available for inspection by members of the public in a legible form at such times and in such place or places as the Authority may determine; and
(b)provide a certified copy of the record, or any part of it, to any person who asks for it—
(a)publish the record, or any part of it;
(b)exploit commercially the information contained in the record, or any part of that information.
(7)“Authorised unit trust scheme”, “authorised open-ended investment company” and “recognised scheme” have the same meaning as in Part XVII, and associated expressions are to be read accordingly.
(8)“Approved person” means a person in relation to whom the Authority has given its approval under section 59 and “controlled function” and “arrangement” have the same meaning as in that section.
(9)“Relevant authorised person” has the meaning given in section 66.
C1S. 347(1)(a) disapplied (temp. from 31.10.2004 until 30.4.2005) by The Financial Services and Markets Act 2000 (Transitional Provisions) (Mortgages) Order 2004 (S.I. 2004/2615), arts. 1(2)(b), 5, Sch. para. 9
C2S. 347(1)(a) disapplied (temp. from 14.1.2005 until 14.7.2005) by The Financial Services and Markets Act 2000 (Transitional Provisions) (General Insurance Intermediaries) Order 2004, (S.I. 2004/3351), arts. 1(2)(b), 5, {Sch. para. 8}
C3S. 347(1)(h) disapplied (temp. from 31.10.2004 until 30.4.2005) by The Financial Services and Markets Act 2000 (Transitional Provisions) (Mortgages) Order 2004 (S.I. 2004/2615), arts. 1(2)(b), 5, Sch. para. 10
C4S. 347(1)(h) disapplied (temp. from 14.1.2005 until 14.7.2005) by The Financial Services and Markets Act 2000 (Transitional Provisions) (General Insurance Intermediaries) Order 2004, (S.I. 2004/3351), arts. 1(2)(b), 5, {Sch. para. 9}
I1S. 347 partly in force; s. 347 not in force at Royal Assent see s. 431(2); s. 347(3)-(9) in force at 1.12.2001 by S.I. 2001/3538, art. 2(1); s. 347(1)(2) in force for specified purposes at 1.12.2001, 1.5.2002, 1.8.2002, 1.12.2002 by S.I. 2001/3528, art. 2(1)(3)
348 Restrictions on disclosure of confidential information by Authority etc.E+W+S+N.I.
(d)a person appointed to make a report under section 166;
(c)any body or person appointed under paragraph 6 of Schedule 1 to perform a function on behalf of the Authority.
C5S. 348 extended (1.12.2001) by S.I. 2001/3648, arts. 1, 3(2), 4, 5(2), 7(2)
S. 348 modified (17.8.2001 for certain purposes otherwise 1.12.2001) by 1986 c. 53, s. 53A (as substituted (17.8.2001 for certain purposes otherwise 1.12.2001) by S.I. 2001/2617, arts. 2, 8, 13(1), Sch. 3 Pt. II para. 152); S.I. 2001/3538, art. 2(1)
S. 348 modified (17.8.2001 for certain purposes otherwise 1.12.2001) by 1992 c. 40, s. 63A(1) (as substituted (17.8.2001 for certain purposes otherwise 1.12.2001) by S.I. 2001/2617, arts. 2, 8, 13(1), Sch. 3 Pt. I para. 78); S.I. 2001/3538, art. 2(1)
C6S. 348 applied (20.4.2003) by The Insurers (Reorganisation and Winding Up) Regulations 2003 (S.I. 2003/1102), regs. 16(2), 50(3) (with reg. 3)
C7S. 348 modified (20.4.2003) by The Insurers (Reorganisation and Winding Up) Regulations 2003 (S.I. 2003/1102), reg. 50(4) (with reg. 3)
C8S. 348 applied (18.2.2004) by The Insurers (Reorganisation and Winding Up) Regulations 2004 (S.I. 2004/353), reg. 16(2)(3) (with reg. 3)
C9S. 348 applied (with modifications) (18.2.2004) by The Insurers (Reorganisation and Winding Up) Regulations 2004 (S.I. 2004/353), reg. 50(3)-(6) (with reg. 3)
C10S. 348 applied (with modifications) (5.5.2004) by The Credit Institutions (Reorganisation and Winding up) Regulations 2004 (S.I. 2004/1045), regs. 18, 38
C11S. 348 excluded (20.5.2006) by The Takeovers Directive (Interim Implementation) Regulations 2006 (S.I. 2006/1183), reg. 18(1)
C12S. 348 applied (6.3.2008) by The Regulated Covered Bonds Regulations 2008 (S.I. 2008/346), reg. 43
C13S. 348 applied (with modifications) (2.3.2009) by The Payment Services Regulations 2009 (S.I. 2009/209), regs. 1(2)(a), 95, Sch. 5 para. 5 (with reg. 3)
C14S. 348 applied (with modifications) (11.2.2010) by The Cross-Border Payments in Euro Regulations 2010 (S.I. 2010/89), reg. 19, Sch. para. 4
C15S. 348(1) restricted (20.4.2003) by The Insurers (Reorganisation and Winding Up) Regulations 2003 (S.I. 2003/1102), regs. 16(3), 50(5) (with reg. 3)
349 Exceptions from section 348.E+W+S+N.I.
(1)Section 348 does not prevent a disclosure of confidential information which is—
(a)made for the purpose of facilitating the carrying out of a public function; and
(b)permitted by regulations made by the Treasury under this section.
(2)The regulations may, in particular, make provision permitting the disclosure of confidential information or of confidential information of a prescribed kind—
(a)by prescribed recipients, or recipients of a prescribed description, to any person for the purpose of enabling or assisting the recipient to discharge prescribed public functions;
(b)by prescribed recipients, or recipients of a prescribed description, to prescribed persons, or persons of prescribed descriptions, for the purpose of enabling or assisting those persons to discharge prescribed public functions;
(c)by the Authority to the Treasury or the Secretary of State for any purpose;
(d)by any recipient if the disclosure is with a view to or in connection with prescribed proceedings.
(a)making any permission to disclose confidential information subject to conditions (which may relate to the obtaining of consents or any other matter);
(b)restricting the uses to which confidential information disclosed under the regulations may be put.
(4)In relation to confidential information, each of the following is a “recipient”—
(a)a primary recipient;
(b)a person obtaining the information directly or indirectly from a primary recipient.
(5)“Public functions” includes—
(a)functions conferred by or in accordance with any provision contained in any enactment or subordinate legislation;
(b)functions conferred by or in accordance with any provision contained in the Community Treaties or any Community instrument;
(c)similar functions conferred on persons by or under provisions having effect as part of the law of a country or territory outside the United Kingdom;
(d)functions exercisable in relation to prescribed disciplinary proceedings.
(6)“Enactment” includes—
(7)“Subordinate legislation” has the meaning given in the M1Interpretation Act 1978 and also includes an instrument made under an Act of the Scottish Parliament or under Northern Ireland legislation.
C16S. 349 extended (1.12.2001) by S.I. 2001/3648, arts. 1, 3(2), 4, 5(2), 7(2)
S. 349 modified (17.8.2001 for certain purposes otherwise 1.12.2001) by 1986 c. 53, s. 53A as substituted (17.8.2001 for certain purposes otherwise 1.12.2001) by S.I. 2001/2617, arts. 2, 8, 13(1), Sch. 3 Pt. II para. 152; S.I. 2001/3538, art. 2(1)
S. 349 modified (17.8.2001 for certain purposes otherwise 1.12.2001) by 1992 c. 40 (as substituted (17.8.2001 for certain purposes otherwise 1.12.2001) by S.I. 2001/2617, arts. 2, 8, 13(1), Sch. 3 Pt. I para. 78; S.I. 2001/3538, art. 2(1)
C17S. 349 applied (20.4.2003) by The Insurers (Reorganisation and Winding Up) Regulations 2003 (S.I. 2003/1102), regs. 16(2), 50(3) (with reg. 3)
C18S. 349 modified (20.4.2003) by The Insurers (Reorganisation and Winding Up) Regulations 2003 (S.I. 2003/1102), reg. 50(4) (with reg. 3)
C19S. 349 applied (18.2.2004) by The Insurers (Reorganisation and Winding Up) Regulations 2004 (S.I. 2004/353), reg. 16(2)(3) (with reg. 3)
C20S. 349 applied (with modifications) (18.2.2004) by The Insurers (Reorganisation and Winding Up) Regulations 2004 (S.I. 2004/353), reg. 50(3)-(6) (with reg. 3)
C21S. 349 applied (with modifications) (5.5.2004) by The Credit Institutions (Reorganisation and Winding up) Regulations 2004 (S.I. 2004/1045), regs. 18, 38
I2S. 349 wholly in force at 18.6.2001; s. 349 not in force at Royal Assent see s. 431(2); s. 349 in force for certain purposes at 25.2.2001 by S.I. 2001/516, art. 2(b), Sch. Pt. 2; s. 349 in force in so far as not already in force at 18.6.2001 by S.I. 2001/1820, art. 2, Sch.
350 Disclosure of information by the Inland Revenue.E+W+S+N.I.
(1)No obligation as to secrecy imposed by statute or otherwise prevents the disclosure of Revenue information to—
if the disclosure is made for the purpose of assisting in the investigation of a matter under section 168 or with a view to the appointment of an investigator under that section.
(2)A disclosure may only be made under subsection (1) by or under the authority of the Commissioners of Inland Revenue.
(3)Section 348 does not apply to Revenue information.
(4)Information obtained as a result of subsection (1) may not be used except—
(a)for the purpose of deciding whether to appoint an investigator under section 168;
(b)in the conduct of an investigation under section 168;
(c)in criminal proceedings brought against a person under this Act or the M2Criminal Justice Act 1993 as a result of an investigation under section 168;
(d)for the purpose of taking action under this Act against a person as a result of an investigation under section 168;
(e)in proceedings before the Tribunal as a result of action taken as mentioned in paragraph (d).
(5)Information obtained as a result of subsection (1) may not be disclosed except—
(a)by or under the authority of the Commissioners of Inland Revenue;
(b)in proceedings mentioned in subsection (4)(c) or (e) or with a view to their institution.
(6)Subsection (5) does not prevent the disclosure of information obtained as a result of subsection (1) to a person to whom it could have been disclosed under subsection (1).
(7)“Revenue information” means information held by a person which it would be an offence under section 182 of the M3Finance Act 1989 for him to disclose.
C22S. 350 modified (17.8.2001 for certain purposes otherwise 1.12.2001) by 1986 c. 53, s. 53A (as substituted (17.8.2001 for certain purposes otherwise 1.12.2001) by S.I. 2001/2617, arts. 2, 8, 13(1), Sch. 3 Pt. II para. 152); S.I. 2001/3538, art. 2(1)
S. 350 modified (17.8.2001 for certain purposes otherwise 1.12.2001) by 1992 c. 40, s. 63A (as substituted (17.8.2001 for certain purposes otherwise 1.12.2001) by S.I. 2001/2617, arts. 2, 8, 13(1), Sch. 3 Pt. I para. 78); S.I. 2001/3538, art. 2(1)
C23S. 350 restricted (7.4.2005) by Commissioners for Revenue and Customs Act 2005 (c. 11), ss. 17(6), 53(1), Sch. 2 Pt. 2 para. 18 (with s. 22); S.I. 2005/1126, art. 2(1)
I3S. 350 wholly in force 3.9.2001; s. 350 not in force at Royal Assent see s. 431(2); s. 350(3)(7) in force at 18.6.2001 by S.I. 2001/1820, art. 2, Sch.; s. 350 in force in so far as not already in force at 3.9.2001 by S.I. 2001/2632, art. 2(2), Sch. Pt. 2
M31989 c. 26.
351 Competition information.E+W+S+N.I.
(1)A person is guilty of an offence if he has competition information (whether or not it was obtained by him) and improperly discloses it—
(a)if it relates to the affairs of an individual, during that individual’s lifetime;
(b)if it relates to any particular business of a body, while that business continues to be carried on.
(2)For the purposes of subsection (1) a disclosure is improper unless it is made—
(a)with the consent of the person from whom it was obtained and, if different—
(ii)the person for the time being carrying on the business to which the information relates;
(b)to facilitate the performance by a person mentioned in the first column of the table set out in Part I of Schedule 19 of a function mentioned in the second column of that table;
(c)in pursuance of a Community obligation;
(d)for the purpose of criminal proceedings in any part of the United Kingdom;
(e)in connection with the investigation of any criminal offence triable in the United Kingdom or any part of the United Kingdom;
(f)with a view to the institution of, or otherwise for the purposes of, civil proceedings brought under or in connection with—
(i)a competition provision; or
(ii)a specified enactment.
(4)Section 348 does not apply to competition information.
(5)“Competition information” means information which—
(a)relates to the affairs of a particular individual or body;
(b)is not otherwise in the public domain; and
(c)was obtained under or by virtue of a competition provision.
(6)“Competition provision” means any provision of—
(a)an order made under section 95;
(b)Chapter III of Part X; or
(c)Chapter II of Part XVIII.
(7)“Specified enactment” means an enactment specified in Part II of Schedule 19.
C24S. 351 modified (17.8.2001 for certain purposes otherwise 1.12.2001) by 1986 c. 53, s. 53A (as substituted (17.8.2001 for certain purposes otherwise 1.12.2001) by S.I. 2001/2617, arts. 2, 8, 13(1), Sch. 3 Pt. II para. 152); S.I. 2001/3538, art. 2(1)
S. 351 modified (17.8.2001 for certain purposes otherwise 1.12.2001) by 1992 c. 40, s. 63A (as substituted (17.8.2001 for certain purposes otherwise 1.12.2001) by S.I. 2001/2617, arts. 2, 8, 13(1), Sch. 3 Pt. I para. 78); S.I. 2001/3538, art. 2(1)
I4S. 351 wholly in force at 18.6.2001; s. 351 not in force at Royal Assent see s. 431(2); s. 351(7) in force at 25.2.2001 by S.I. 2001/516, art. 2(a), Sch. Pt. 1; s. 351 in force in so far as not already in force at 18.6.2001 by S.I. 2001/1820, art. 2, Sch.
[F1[F1351ADisclosure under the UCITS directiveE+W+S+N.I.
(1)This section applies in relation to a disclosure made by a person who falls within subsection (2) for the purpose of compliance with requirements set out in rules made by the Authority to implement Chapter VIII of the UCITS directive.
(a)the auditor of an authorised unit trust scheme that is a master UCITS;
(b)the trustee of an authorised unit trust scheme that is a master UCITS;
(c)the auditor of an authorised unit trust scheme that is a feeder UCITS;
(d)the trustee of an authorised unit trust scheme that is a feeder UCITS; or
(e)a person acting on behalf of a person within paragraph (a), (b), (c) or (d) above.
(3)A disclosure to which this section applies is not to be taken as a contravention of any duty to which the person making the disclosure is subject.
(4)In this section, “authorised unit trust scheme”, “master UCITS” and “feeder UCITS” have the meaning given in section 237.]]
F1S. 351A inserted (1.7.2011) by The Undertakings for Collective Investment in Transferable Securities Regulations 2011 (S.I. 2011/1613), reg. 2(28)
352 Offences.E+W+S+N.I.
C25S. 352 modified (17.8.2001 for certain purposes otherwise 1.12.2001) by 1986 c. 53, s. 53A (as substituted (17.8.2001 for certain purposes otherwise 1.12.2001) by S.I. 2001/2617, arts. 2, 8, 13(1), Sch. 3 Pt. II para. 152); S.I. 2001/3538, art. 2(1)
S. 352 modified (17.8.2001 for certain purposes otherwise 1.12.2001) by 1992 c. 40, s. 63A (as substituted (17.8.2001 for certain purposes otherwise 1.12.2001) by S.I. 2001/2617, arts. 2, 8, 13(1), Sch. 3 Pt. I para. 78; S.I. 2001/3538, art. 2(1)
S. 352 extended (1.12.2001) by S.I. 2001/3648, arts. 1, 3(2)
C26S. 352 applied (20.4.2003) by The Insurers (Reorganisation and Winding Up) Regulations 2003 (S.I. 2003/1102), regs. 16(2), 50(3) (with reg. 3)
C27S. 352 modified (20.4.2003) by The Insurers (Reorganisation and Winding Up) Regulations 2003 (S.I. 2003/1102), reg. 50(4) (with reg. 3)
C28S. 352 applied (18.2.2004) by The Insurers (Reorganisation and Winding Up) Regulations 2004 (S.I. 2004/353), reg. 16(2)(3) (with reg. 3)
C29S. 352 applied (with modifications) (18.2.2004) by The Insurers (Reorganisation and Winding Up) Regulations 2004 (S.I. 2004/353), reg. 50(3)-(6) (with reg. 3)
C30S. 352 applied (with modifications) (5.5.2004) by The Credit Institutions (Reorganisation and Winding up) Regulations 2004 (S.I. 2004/1045), regs. 18, 38
C31S. 352 applied (6.3.2008) by The Regulated Covered Bonds Regulations 2008 (S.I. 2008/346), reg. 43
C32S. 352 applied (2.3.2009) by The Payment Services Regulations 2009 (S.I. 2009/209), regs. 1(2)(a), 95, Sch. 5 para. 5 (with reg. 3)
C33S. 352 applied (11.2.2010) by The Cross-Border Payments in Euro Regulations 2010 (S.I. 2010/89), reg. 19, Sch. para. 4
C34S. 352 applied (9.2.2011 for certain purposes and 30.4.2011 otherwise) by The Electronic Money Regulations 2011 (S.I. 2011/99), regs. 1(2)(a)(xiv)(b), 62, Sch. 3 para. 6 (with reg. 3)
I5S. 352 wholly in force at 3.9.2001; s. 352 not in force at Royal Assent see s. 431(2); s. 352 in force for specified purposes at 18.6.2001 by S.I. 2001/1820, art. 2, Sch.; s. 352 in force in so far as not already in force at 3.9.2001 by S.I. 2001/2632, art. 2(2), Sch. Pt. 2
353 Removal of other restrictions on disclosure.E+W+S+N.I.
(1)The Treasury may make regulations permitting the disclosure of any information, or of information of a prescribed kind—
(a)by prescribed persons for the purpose of assisting or enabling them to discharge prescribed functions under this Act or any rules or regulations made under it;
(b)by prescribed persons, or persons of a prescribed description, to the Authority for the purpose of assisting or enabling the Authority to discharge prescribed functions.
(2)Regulations under this section may not make any provision in relation to the disclosure of confidential information by primary recipients or by any person obtaining confidential information directly or indirectly from a primary recipient.
(3)If a person discloses any information as permitted by regulations under this section the disclosure is not to be taken as a contravention of any duty to which he is subject.
C35S. 353 modified (17.8.2001 for certain purposes otherwise 1.12.2001) by 1986 c. 53, s. 53A (as substituted (17.8.2001 for certain purposes otherwise 1.12.2001) by S.I. 2001/2617, arts. 2, 8, 13(1), Sch. 3 Pt. II para. 152); S.I. 2001/3538, art. 2(1)
S. 353 modified (17.8.2001 for certain purposes otherwise 1.12.2001) by 1992 c. 40, 63A (as substituted (17.8.2001 for certain purposes otherwise 1.12.2001) by S.I. 2001/2617, arts. 2, 8, 13(1), Sch. 3 Pt. I para. 78); S.I. 2001/3538, art. 2(1)
Co-operationE+W+S+N.I.
354 Authority’s duty to co-operate with others.E+W+S+N.I.
(1)The Authority must take such steps as it considers appropriate to co-operate with other persons (whether in the United Kingdom or elsewhere) who have functions—
(a)similar to those of the Authority; or
(2)Co-operation may include the sharing of information which the Authority is not prevented from disclosing.
(3)“Financial crime” has the same meaning as in section 6.