Modifications etc. (not altering text)
C1Sch. 2 extended (1.7.2009) to Isle of Man by The Companies Act 2006 (Extension of Takeover Panel Provisions) (Isle of Man) Order 2009 (S.I. 2009/1378), art. 2
Textual Amendments
F1Sch. 2 substituted (1.7.2009) by virtue of The Companies Act 2006 (Amendment of Schedule 2) (No. 2) Order 2009 (S.I. 2009/1208), art. 2, Sch.
1(1)A disclosure is made in accordance with this Part of this Schedule if—U.K.
(a)it is made to a person or body exercising relevant functions under legislation in a country or territory outside the British Islands, and
(b)it is made for the purpose of enabling or assisting that person or body to exercise those functions.
(2)“Relevant functions” for this purpose are functions of a public nature that appear to the Panel to be similar to its own functions or those of the [F2Financial Conduct Authority or the Prudential Regulation Authority or similar to the regulatory functions of the Bank of England].
Textual Amendments
F2Words in Sch. 2 Pt. 3 para. 1 substituted (1.4.2013) by Financial Services Act 2012 (c. 21), s. 122(3), Sch. 18 para. 123(4) (with Sch. 20); S.I. 2013/423, art. 3, Sch.
2U.K.In determining whether to disclose information to a person or body in accordance with this Part of this Schedule, the Panel must have regard to the following considerations—
(a)whether the use that the person or body is likely to make of the information is sufficiently important to justify making the disclosure;
(b)whether the person or body has adequate arrangements to prevent the information from being used or further disclosed, otherwise than—
(i)for the purposes of carrying out the functions mentioned in paragraph 1(1)(a), or
(ii)for other purposes substantially similar to those for which information disclosed to the Panel could be used or further disclosed.]