The Companies (No. 2) (Northern Ireland) Order 1990

Provision for security of information obtained

13.—(1) Article 442 of the Companies Order (provision for security of information obtained) is amended as follows.

(2) In paragraph (1) (purposes for which disclosure permitted)—

(a)in the opening words for “body” (twice) substitute “company”;

(b)for sub-paragraph (c) substitute—

“(c)for the purposes of enabling or assisting any inspector appointed under this Part, Article 16A of the Insider Dealing Order or section 94 of the Financial Services Act 1986, to discharge his functions;”;

(c)after that sub-paragraph insert—

“(cc)for the purpose of enabling or assisting any person authorised to exercise powers under section 44 of the Insurance Companies Act 1982, Article 440 of this Order, section 106 of the Financial Services Act 1986 or section 84 of the Companies Act 1989 to discharge his functions;”;

(d)in sub-paragraph (d) after “Insider Dealing Order” insert “Part III of the Companies (Northern Ireland) Order 1990, Part II or V of the Companies (No. 2) (Northern Ireland) Order 1990”;

(e)omit sub-paragraph (e);

(f)in sub-paragraph (h) for “(n) or (p)” substitute “or (n)”;

(g)after that sub-paragraph insert—

“(hh)for the purpose of enabling or assisting a body established by order under Article 48 of the Companies (Northern Ireland) Order 1990 to discharge its functions under Part III of that Order, or of enabling or assisting a recognised supervisory or qualifying body within the meaning of that Part to discharge its functions as such;”;

(h)after sub-paragraph (l) insert—

“(ll)with a view to the institution of, or otherwise for the purposes of, any disciplinary proceedings relating to the discharge by a public servant of his duties;”;

(i)for sub-paragraph (m) substitute—

“(m)for the purpose of enabling or assisting an overseas regulatory authority to exercise its regulatory functions.”.

(3) For paragraph (1A) substitute—

“(1A) In paragraph (1)—

(a)in sub-paragraph (ll) “public servant” means an officer or servant of the Crown or of any public or other authority for the time being designated for the purposes of that sub-paragraph by the Department by order;

(b)in sub-paragraph (m) “overseas regulatory authority” and “regulatory functions” have the same meaning as in section 82 of the Companies Act 1989.”.

(4) In paragraph (1B) (disclosure to designated public authorities) for “designated for the purposes of this Article” substitute “designated for the purposes of this paragraph”.

(5) In paragraph (2), for the second sentence substitute—

• “Articles 680 (restriction on prosecutions), 680A (liability of individuals for corporate default) and 680B (criminal proceedings against unincorporated bodies) apply to this offence.”.

(6) For paragraph (3) substitute—

“(3) For the purposes of this Article each of the following is a competent authority—

(a)the Department,

(b)an inspector appointed under this Part or Article 16A of the Insider Dealing Order or section 94 of the Financial Services Act 1986,

(c)any person authorised to exercise powers under section 44 of the Insurance Companies Act 1982, Article 440 of this Order, section 106 of the Financial Services Act 1986 or section 84 of the Companies Act 1989,

(d)the Secretary of State,

(e)the Treasury,

(f)the Bank of England,

(g)the Lord Advocate,

(h)the Director of Public Prosecutions for Northern Ireland and the Director of Public Prosecutions in England and Wales,

(i)any designated agency or transferee body within the meaning of the Financial Services Act 1986, and any body administering a scheme under section 54 of or paragraph 18 of Schedule 11 to that Act (schemes for compensation of investors),

(j)the Registrar of Friendly Societies and the Chief Registrar of friendly societies in Great Britain,

(k)the Industrial Assurance Commissioner for Northern Ireland and the Industrial Assurance Commissioner in Great Britain,

(l)any constable,

(m)any procurator fiscal.

(3A) Any information which may by virtue of this Article be disclosed to a competent authority may be disclosed to any officer or servant of the authority.”.

(7) In paragraph (4) (orders) for “paragraph (1B)” substitute “paragraph (1A)(a) or (1B)”.