Banking Act 1987 (repealed)

84 Obstruction of investigations. U.K.

(1) Section 82 above does not preclude the disclosure by the [F1 Authority] of information to any person specified in the first column of the following Table if the [F1 Authority] considers that the disclosure would enable or assist that person to discharge the functions specified in relation to him in the second column of that Table.

Table

Person	Functions
[1.]The Secretary of State.	Functions under the M1 Insurance Companies Act 1982, Part XIV of the M2 Companies Act 1985, Part XIII of the M3 Insolvency Act 1986 [F2 , the Financial Services Act 1986 or Part II, III or VII of the Companies Act 1989].
[2.][F3 The Treasury]	[F3 Functions [F4 under the Insurance Companies Act 1982,] under the Financial Services Act 1986 or under Part III or Part VII of the Companies Act 1989 .]
[3.][F5 An inspector appointed under Part XIV of the Companies Act 1985 or section 94 or 177 of the Financial Services Act 1986.]	[F5 Functions under that Part or that section.]
[4.][F6 [F7 A person authorised to exercise powers under section 43A or 44 of the Insurance Companies Act 1982], section 447 of the Companies Act 1985, section 106 of the Financial Services Act 1986 or section 84 of the Companies Act 1989.]	[F6 Functions under that section.]
[F8 4A The Bank of England.	Functions in its capacity as a monetary authority or supervisor of systems for the transfer of funds between credit institutions and their customers.]
[5.]The Chief Registrar of friendly societies, F9 . . . and the Assistant Registrar of Friendly Societies for Scotland.	Functions under the enactments relating to friendly societies F9 . . ..
[F10 5A][F11 The Friendly Societies Commission.]	[F11 Functions under the enactments relating to friendly societies or under the Financial Services Act 1986.]
[6.]The Industrial Assurance Commissioner and the Industrial Assurance Commissioner for Northern Ireland.	Functions under the enactments relating to industrial assurance.
[7.]The Building Societies Commission.	Functions under the M4 Building Societies Act 1986 and protecting the interests of the shareholders and depositors of building societies.
[8.]The Director General of Fair Trading.	Functions under the M5 Consumer Credit Act 1974.
[9.][F12 A designated agency (within the meaning of the Financial Services Act 1986.]	[F12 Functions under the Financial Services Act 1986 or Part VII of the Companies Act 1989.]
[10.][F12 A transferee body or the competent authority (within the meaning of the Financial Services Act 1986).]	[F12 Functions under the Financial Services Act 1986.]
[11.]A recognised self-regulating organisation, recognised professional body, recognised investment exchange, F13 . . . or recognised self-regulating organisation for friendly societies (within the meaning of the Financial Services Act 1986).	Functions in its capacity as an organisation, body, [F14 or exchange] recognised under the Financial Services Act 1986.
[F15 11AA recognised clearing house (within the meaning of the Financial Services Act 1986).	Functions in its capacity as a clearing house under the Financial Services Act 1986 so far as they are exercisable in relation to defaults or potential defaults by market participants.]
[F15 11BA person approved under the Uncertificated Securities Regulations 1995 as an operator of a relevant system (within the meaning of those Regulations).	Functions as a person so approved so far as they are exercisable in relation to defaults or potential defaults by market participants.]
[F15 11CA recognised supervisory body (within the meaning of Part II of the Companies Act 1989).	Functions in its capacity as such a body under that Part or functions in relation to disciplinary proceedings against auditors.]
. . . F16	. . . F16
[12.]A recognised professional body (within the meaning of section 391 of the Insolvency Act 1986).	Functions in its capacity as such a body under the Insolvency Act 1986 [F17 or functions in relation to disciplinary proceedings against insolvency practitioners (within the meaning of that Act)].
[13.]The Department of Economic Development in Northern Ireland.	Functions under Part XV of the Companies (Northern Ireland) Order M6 1986 [F18 or Part XII of the Insolvency (Northern Ireland) Order 1989][F19 or Part III of the Companies (Northern Ireland) Order 1990 or Part II or V of the Companies (No. 2) (Northern Ireland) Order 1990].
[14.][F20 An inspector appointed under Part XV of the Companies (Northern Ireland) Order 1986 F21 . . .]	[F20 Functions under that Part F21 . . ..]
[15.][F20 A person authorised to exercise powers under Article 440 of the Companies (Northern Ireland) Order 1986 F22 . . ..]	[F20 Functions under that Article F22 . . ..]
[16.]The Official Receiver or, in Northern Ireland, the Official [F23 Receiver for Northern Ireland]	Investigating the cause of the failure of an authorised institution or former authorised institution in respect of which a winding-up order, [F23 or bankruptcy order]has been made.
[17.][F24 Panel on Take-overs and Mergers]	[F24 All its functions]
[18.][F25 A person included in the list maintained by the [F26 Authority] for the purposes of section 171 of the Companies Act 1989.]	[F25 Functions under settlement arrangements to which regulations under that section relate.]
[19.][F27 A recognised professional body (within the meaning of Article 350 of the Insolvency (Northern Ireland) Order 1989).]	[F27 Functions in its capacity as such a body under the Insolvency (Northern Ireland) Order 1989 [F28 or functions in relation to disciplinary proceedings against insolvency practitioners (within the meaning of that Order)].]
[F29 20A recognised supervisory body (within the meaning of Part III of the Companies (Northern Ireland) Order 1990).	Functions in its capacity as such a body under that Part, or functions in relation to disciplinary proceedings against auditors.]
[F30 20. The Occupational Pensions Regulatory Authority.	Functions under the Pension Schemes Act 1993 or the Pensions Act 1995 or any enactment in force in Northern Ireland corresponding to either of them.]
[F31 21. The Operator within the meaning of the Uncertificated Securities Regulations 1992.]	[F31 Functions of the Treasury under Parts IX, X, XII and XIV of the Uncertificated Securities Regulations 1992 which are for the time being delegated to the Operator. ]

(2) The Treasury may after consultation with the [F32 Authority] by order amend the Table in subsection (1) above by—

(a) adding any person exercising regulatory functions and specifying functions in relation to that person;

(b) moving any person for the time being specified in the Table; or

(c) altering the functions for the time being specified in the Table in relation to any person;

and the Treasury may also after consultation with the [F32 Authority] by order restrict the circumstances in which, or impose conditions subject to which, disclosure is permitted in the case of any person for the time being specified in the Table.

(3) An order under subsection (2) above shall be subject to annulment in pursuance of a resolution of either House of Parliament.

(4) Section 82 above does not preclude the disclosure by any person specified in the first column of the Table in subsection (1) above of information obtained by him by virtue of that subsection if he makes the disclosure with the consent of the [F32 Authority] and for the purpose of enabling or assisting him to discharge any functions specified in relation to him in the second column of that Table; and before deciding whether to give its consent to such a disclosure by any person the [F32 Authority] shall take account of such representations made by him as to the desirability of or the necessity for the disclosure.

[F33 (5) Section 82 above does not preclude the disclosure by the [F32 Authority] of information to the Treasury if disclosure appears to the [F32 Authority] to be—

(a) desirable or expedient in the interests of depositors; or

(b) in the public interest,

and (in either case) in accordance with article 12(7) of the First Council Directive F34 .

(5A) Section 82 above does not preclude the disclosure by the [F32 Authority] of information to the Secretary of State for purposes other than those specified in relation to him in subsection (1) above if the disclosure is made with the consent of the Treasury and—

(a) the information relates to an authorised institution or former authorised institution and does not enable the financial affairs of any other identifiable person to be ascertained and disclosure appears to the [F32 Authority] to be necessary in the interests of depositors or in the public interest; or

(b) in any other case, disclosure appears to the [F32 Authority] to be necessary in the interests of depositors;

and (in either case) disclosure appears to the [F32 Authority] to be in accordance with article 12(7) of the First Council Directive.]

(6) Section 82 above does not preclude the disclosure of information for the purpose of enabling or assisting an authority in a country or territory outside the United Kingdom to exercise—

(a) functions corresponding to those of—

(i) the [F32 Authority] under this Act [F35 or the Banking Coordination (Second Council Directive) Regulations 1992];

(ii) the Secretary of State [F36 or the Treasury]under the M7 Insurance Companies Act 1982, Part XIII of the M8 Insolvency Act 1986 or the M9 Financial Services Act 1986; or

(iii) the competent authority under Part IV of the Financial Services Act 1986;

(b) functions in connection with rules of law corresponding to any of the provisions of [F37 Part V of the Criminal Justice Act 1993 (insider dealing)] or Part VII of the M10 Financial Services Act 1986; F38 . . .

(c) supervisory functions in respect of bodies carrying on business corresponding to that of building societies.

[F39 or

(d)

in the case of a supervisory authority in another EEA State, its functions as a supervisor of systems for the transfer of funds between credit institutions and their customers.]

[F40 (7) Subsection (6) above does not apply in relation to disclosures to an authority which is not a supervisory authority in another member State unless the [F32 Authority] is satisfied that the authority is subject to restrictions on further disclosures at least equivalent to those imposed by this Part of this Act.

(8) Information which is disclosed to a person in pursuance of subsection (1), (4) or (6) above shall not be used otherwise than for the purpose mentioned in that subsection.

(9) Any person who uses information in contravention of subsection (8) above shall be liable on summary conviction to imprisonment for a term not exceeding three months or to a fine not exceeding the fifth level on the standard scale or to both.

(10) [F41 Subject to subsection (11) below,]Any reference in this section to enabling or assisting any person to discharge or exercise any functions is a reference to enabling or assisting that person to discharge or exercise those functions in relation to—

(a) a financial market; F42 . . .

(b) persons carrying on the business of banking or insurance, Consumer Credit Act businesses or the business of providing other financial services; [F43 or

(c) persons involved in the operation of occupational pension schemes (within the meaning of the Pension Schemes Act 1993 or, in Northern Ireland, the Pension Schemes (Northern Ireland) Act 1993)]

and in this subsection ’Consumer Credit Act business’ has the same meaning as in the Banking Coordination (Second Council Directive) Regulations 1992.]

[F44 (11) Subsection (10) above shall not apply in relation to references to enabling or assisting the discharge or exercise of the following functions, namely—

(a) functions of the Secretary of State under Part XIV of the Companies Act 1985, Part XIII of the Insolvency Act 1986 or Part II of the Companies Act 1989 or, so far as relating to the breach of any law relating to companies, under section 83 of the Companies Act 1989;

(b) functions of an inspector under Part XIV of the Companies Act 1985 or, so far as relating to offences involving securities of a company, under section 177 of the Financial Services Act 1986;

(b) functions of a person authorised to exercise powers under section 84 of the Companies Act 1989, so far as relating to the breach of any law relating to companies;

(d) functions of a recognised clearing house (within the meaning of the Financial Services Act 1986);

(e) functions of a person approved under the Uncertificated Securities Regulations 1995 as an operator of a relevant system (within the meaning of those Regulations);

(f) functions of a recognised supervisory body (within the meaning of Part II of the Companies Act 1989);

(g) functions of a recognised professional body (within the meaning of section 391 of the Insolvency Act 1986);

(h) functions of the Department of Economic Development in Northern Ireland under Part XV of the Companies (Northern Ireland) Order 1986, Part XII of the Insolvency (Northern Ireland) Order 1989 or Part III of the Companies (Northern Ireland) Order 1990;

(i) functions of an inspector under Part XV of the Companies (Northern Ireland) Order 1986;

(j) functions of a recognised professional body (within the meaning of Article 350 of the Insolvency (Northern Ireland) Order 1989);

(k) functions of a recognised supervisory body (within the meaning of Part III of the Companies (Northern Ireland) Order 1990);

(l) functions of a supervisory authority in another EEA State in its capacity as a supervisor of systems for the transfer of funds between credit institutions and their customers.

(12) In this section ’another EEA State’ means a State other than the United Kingdom which is a contracting party to the agreement on the European Economic Area signed at Oporto on 2nd May 1992 as adjusted by the Protocol signed at Brussels on 17th March 1993.]

Textual Amendments

F1 Words in s. 84(1) substituted (1.6.1998) by 1998 c. 11, ss. 23, 42, Sch. 5 Pt. IV Ch. I para. 54(2) (with Sch. 8 para. 2); S.I. 1998/1120, art. 2

F2 Words in s. 84(1) Table substituted by Companies Act 1989 (c. 40, SIF 27), s. 81(2) (the substitution being in force, 21.2.1990 to the extent mentioned in S.I. 1990/142 art. 4(b) and 25.4.1991 otherwise as referred to in S.I. 1991/878, art. 2, Sch.)

F3 Entry in s. 84(1) Table inserted (7.6.1992) by S.I. 1992/1315, art. 10(1), Sch. 4, para. 11(1).

F4 Words in s. 84(1) Table entry no. 2 inserted (5.1.1998) by S.I. 1997/2781, art. 8(1), Sch. Pt. II para. 113

F5 Entry substituted by Companies Act 1989 (c. 40, SIF 27), s. 81(3)

F6 Entry substituted by Companies Act 1989 (c. 40, SIF 27), s. 81(4)

F7 Words in s. 84(1) Table entry no. 4 substituted (30.12.1994) by S.I. 1994/3132, reg. 11

F8 Entry no. 4A in Table in s. 84(1) inserted (1.6.1998) by 1998 c. 11, ss. 23, 42, Sch. 5 Pt. IV Ch. I para. 54(3) (with Sch. 8 para. 2); S.I. 1998/1120, art. 2

F9 Words in Table in s. 84(1) repealed (1.1.1994) by Friendly Societies Act 1992 (c. 40), s. 120(2), Sch. 22 (with ss. 7(5), 93(4)); S.I. 1993/2213, art. 2(1), Sch. 6 appendix.

F10 Entry in Table in s. 84(1) numbered 5A (18.7.1996) by S.I. 1996/1669, reg. 23, Sch. 5 para. 1(a)

F11 Entry in Table in s. 84(1) inserted (1.2.1993) by Friendly Societies Act 1992 (c. 40), s. 120(1), Sch. 21, Pt. I para. 9 (with ss. 7(5), 93(4)); S.I. 1993/16, art. 2, Sch. 3.

F12 Entries in s. 84(1) Table beginning 'A designated agency (within the meaning of the Financial Services Act 1986)' and 'A transferee body' substituted for entry beginning “designated agency or transferee body” by Companies Act 1989 (c. 40, SIF 27), s. 81(5) (the substitution being in force, 21.2.1990 to the extent mentioned in S.I. 1990/142, art. 4(b) and 25.4.1991 otherwise as referred to in S.I. 1991/878, art. 2, Sch.)

F13 Words in s. 84(1) Table entry no. 11 omitted (18.7.1996) by virtue of S.I. 1996/1669, reg. 5(2)(a)(6)

F14 Words in s. 84(1) Table entry no. 11 substituted (18.7.1996) by S.I. 1996/1669, reg. 5(2)(a)(6)

F15 S. 84(1) Table entries 11A-11C inserted (18.7.1996) by S.I. 1996/1669, reg. 5(2)(b)(6)

F16 Entry repealed by Companies Act 1989 (c. 40, SIF 27), s. 212, Sch. 24

F17 Words in s. 84(1) Table entry no. 12 inserted (18.7.1996) by S.I. 1996/1669, reg. 5(2)(c)(6)

F18 Words in s. 84(1) Table inserted (01.10.1991) by S.I. 1989/2405, (N.I. 19), art. 381(2), Sch. 9 para. 54(a); S.R. 1991/411, art. 2

F19 Words in s. 84(1) Table added (11.03.1991) save the words "or V" which came into force on 01.10.1991) by S.I. 1990/1504 (N.I. 10), art. 25(2); S.R. 1991/26, art. 2(2)(b); S.R. 1991/438, art. 2(a)

F20 Entry in s. 84(1) substituted (11.03.1991) by S.I. 1990/1504 (N.I. 10), art. 25(3); S.R. 1991/26, art. 2(2)

F21 Words in Table in s. 84(1) repealed (1.3.1994) by 1993 c. 36, s. 79(14), Sch. 6 Pt. I; S.I. 1994/242, art. 2, Sch.

F22 Words in s. 84(1) Table entry no. 15 omitted (18.7.1996) by virtue of S.I. 1996/1669, reg. 23, Sch. 5 para. 1(b)

F23 Words in s. 84(1) Table substituted (1.10.1991) by S.I. 1989/2405 (N.I. 19), art. 381(2), Sch. 9 para. 54(b)(i)(ii); S.R. 1991/411, art. 2

F24 The body known as the Panel on Take-overs and Mergers is added to the Table in s. 84 in relation to all its functions by S.I. 1987/1292, reg. 2

F25 Entry in s. 84(1) Table added (25.9.1991 for specified purposes and 4.7.1995 otherwise) by Companies Act 1989 (c. 40, SIF 27), s. 171(7); S.I. 1991/488, art. 2(2); S.I. 1995/1591, art. 2

F26 Word in s. 84(1) Table entry no. 18 substituted (1.6.1998) by 1998 c. 11, ss. 23, 42, Sch. 5 Pt. IV Ch. I para. 54(4) (with Sch. 8 para. 2); S.I. 1998/1120, art. 2

F27 Entry in s. 84(1) inserted (01.10.1991) by S.I. 1989/2405 (N.I. 19), art. 381(2), Sch. 9 para. 54(c); S.R. 1991/411, art. 2

F28 Words in s. 84(1) Table entry no. 19 inserted (18.7.1996) by S.I. 1996/1669, reg. 5(2)(d)(6)

F29 Entry no. 20 in Table in s. 84(1) inserted (18.7.1996) by S.I. 1996/1669, reg. 5(2)(e)(6)

F30 Entry no. 20 in Table in s. 84(1) added (6.4.1997) at the end by 1995 c. 26, s. 122, Sch. 3 para. 18(1) (with s. 121(5)); S.I. 1997/664, art. 2, Sch.

F31 Entry no. 21 in Table in s. 84(1) added (29.3.1993) by S.I. 1993/491, art. 2

F32 Words in s. 84(2)(4)(5)(5A)(6)(7) substituted (1.6.1998) by 1998 c. 11, ss. 23, 42, Sch. 5 Pt. IV Ch. I para. 54(5) (with Sch. 8 para. 2); S.I. 1998/1120, art. 2

F33 S. 84(5)(5A) substituted (1.1.1993) for s. 84(5) by S.I. 1992/3218, reg. 39(2) (with savings in reg. 46(b)).

F34 Council Directive 77/780/EEC (OJ No. L322, 17.12.77, p.30); article 12 was substituted by article 16 of Council Directive 89/646/EEC (OJ No. L386, 30.12.89, p.1).

F35 Words in s. 84(6)(a)(i) inserted (1.1.1993) by S.I. 1992/3218, reg. 39(3) (with savings in reg. 46(b)).

F36 Words in s. 84(6)(a)(ii) inserted (7.6.1992) by S.I. 1992/1315, art. 10(1), Sch. 4 para. 11(2).

F37 Words in s. 84(6)(b) substituted (1.3.1994) by 1993 c. 36, s. 79(13), Sch. 5 Pt. I, para. 13; S.I. 1994/242, art. 2, Sch.

F38 Word in s. 84(6) omitted (18.7.1996) by virtue of S.I. 1996/1669, reg. 5(3)(6)

F39 S. 84(6)(d) and the word preceding it inserted (18.7.1996) by S.I. 1996/1669, reg. 5(3)(6)

F40 S. 84(7)-(10) inserted (1.1.1993) by S.I. 1992/3218, reg. 39(4) (with savings in reg. 46(b)).

F41 Words in s. 84(10) inserted (18.7.1996) by S.I. 1996/1669, reg. 5(4)(6)

F42 Word in s. 84(10) repealed (6.4.1997) by 1995 c. 26, s. 122, Sch. 3 para. 18(2), Sch. 7 Pt. I (with s. 121(5)); S.I. 1997/664, art. 2, Sch.

F43 S. 84(10)(c) and the word preceding it added (6.4.1997) by 1995 c. 26, s. 122, Sch. 3 para. 18(2) (with s. 121(5)); S.I. 1997/664, art. 2, Sch.

F44 S. 84(11)(12) inserted (18.7.1996) by S.I. 1996/1669, reg. 5(4)(6)

Modifications etc. (not altering text)

C1 S. 84 modified by Companies Act 1989 (c. 40, SIF 27), s. 88(3)(b)

C2 S. 84 amended (1.1.1993) by S.I. 1992/3218, reg. 47, Sch. 8 para. 24.

C3 S. 84 modified (1.6.1998) by 1998 c. 11, s. 42, Sch. 8 paras. 2-5; S.I. 1998/1120, art. 2

C4 For the purpose of facilitating references to them, the entries in the Table in s. 84(1), were numbered 1-19 (1.1.1993) by S.I. 1992/3218, reg. 39(1).

Marginal Citations

M1 1982 c. 50.

M2 1985 c. 6.

M3 1986 c. 45.

M4 1986 c. 53.

M5 1974 c. 39.

M6 S.I 1986/1032 (N.I. 6).

M7 1982 c. 50.

M8 1986 c. 45.

M9 1986 c. 60.

M10 1986 c. 60.