C6C3C4C2Part 28Takeovers etc

Annotations:
Modifications etc. (not altering text)
C3

Pts. 1-39 modified (31.12.2020) by Regulation (EC) No. 2157/2001, Art. AAA1(3) (as inserted by The European Public Limited-Liability Company (Amendment etc.) (EU Exit) Regulations 2018 (S.I. 2018/1298), regs. 1, 97 (with regs. 140-145) (as amended by S.I. 2020/523, regs. 1(2), 5(a)-(f)); 2020 c. 1, Sch. 5 para. 1(1))

C1C3C5 Chapter 1The Takeover Panel

Annotations:
Modifications etc. (not altering text)
C1

Pt. 28 Ch. 1 extended (Isle of Man) (with modifications) (1.3.2009) by The Companies Act 2006 (Extension of Takeover Panel Provisions) (Isle of Man) Order 2008 (S.I. 2008/3122), art. 2, Sch.

Information

I1948Restrictions on disclosure

1

This section applies to information (in whatever form)—

a

relating to the private affairs of an individual, or

b

relating to any particular business,

that is provided to the Panel in connection with the exercise of its functions.

2

No such information may, during the lifetime of the individual or so long as the business continues to be carried on, be disclosed without the consent of that individual or (as the case may be) the person for the time being carrying on that business.

3

Subsection (2) does not apply to any disclosure of information that—

a

is made for the purpose of facilitating the carrying out by the Panel of any of its functions,

b

is made to a person specified in Part 1 of Schedule 2,

c

is of a description specified in Part 2 of that Schedule, or

d

is made in accordance with Part 3 of that Schedule.

4

The Secretary of State may amend Schedule 2 by order subject to negative resolution procedure.

5

An order under subsection (4) must not—

a

amend Part 1 of Schedule 2 by specifying a person unless the person exercises functions of a public nature (whether or not he exercises any other function);

b

amend Part 2 of Schedule 2 by adding or modifying a description of disclosure unless the purpose for which the disclosure is permitted is likely to facilitate the exercise of a function of a public nature;

c

amend Part 3 of Schedule 2 so as to have the effect of permitting disclosures to be made to a body other than one that exercises functions of a public nature in a country or territory outside the United Kingdom.

6

Subsection (2) does not apply to—

a

the disclosure by an authority within subsection (7) of information disclosed to it by the Panel in reliance on subsection (3);

b

the disclosure of such information by anyone who has obtained it directly or indirectly from an authority within subsection (7).

7

The authorities within this subsection are—

F4a

the Financial Conduct Authority;

aa

the Prudential Regulation Authority;

ab

the Bank of England;

F3b

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

F2c

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

8

This section does not prohibit the disclosure of information if the information is or has been available to the public from any other source.

9

Nothing in this section authorises the making of a disclosure in contravention of F1the data protection legislation.