Companies Act 1989

87 Exceptions from restrictions on disclosure. U.K.

(1) Information to which section 86 applies may be disclosed—

(a) to any person with a view to the institution of, or otherwise for the purposes of, relevant proceedings,

(b) for the purpose of enabling or assisting a relevant authority to discharge any relevant function (including functions in relation to proceedings),

(c) to the Treasury, if the disclosure is made in the interests of investors or in the public interest,

(d) if the information is or has been available to the public from other sources,

(e) in a summary or collection of information framed in such a way as not to enable the identity of any person to whom the information relates to be ascertained, or

(f) in pursuance of any Community obligation.

(2) The relevant proceedings referred to in subsection (1)(a) are—

(a) any criminal proceedings,

[F1 (b) civil proceedings arising under or by virtue of the Financial Services and Markets Act 2000 and proceedings before the Financial Services and Markets Tribunal;]

(c) disciplinary proceedings relating to—

(i) the exercise by a solicitor, auditor, accountant, valuer or actuary of his professional duties, or

(ii) the discharge by a public servant of his duties.

(3) In subsection (2)(c)(ii) “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 provision by order of the Secretary of State.

(4) The relevant authorities referred to in subsection (1)(b), and the relevant functions in relation to each such authority, are as follows—

Authority	Functions
[F2 The Secretary of State	Functions under— (a)the enactments relating to companies or insolvency; (b)Part 2, this Part or Part 7 of this Act; (c)the Financial Services and Markets Act 2000.]
[F3 The Treasury.	Functions under— (a)this Part or Part 7 of this Act; (b)the Financial Services and Markets Act 2000.]
[F4 An inspector appointed under Part 14 of the Companies Act 1985.	Functions under that Part.]
[F5 A person authorised to exercise powers under section 447 of the Companies Act 1985 or section 84 of this Act.	Functions under that section.]
[F5 A person appointed under— (a)section 167 of the Financial Services and Markets Act 2000 (general investigations), (b)section 168 of that Act (investigations in particular cases), (c)section 169(1)(b) of that Act (investigation in support of overseas regulator), (d)section 284 of that Act (investigations into affairs of certain collective investment schemes), or (e)regulations made as a result of section 262(2)(k) of that Act (investigations into open-ended investment companies),to conduct an investigation.	Functions in relation to the investigation.]
An overseas regulatory authority.	Its regulatory functions (within the meaning of section 82 of this Act).
The Department of Economic Development in Northern Ireland or a person appointed or authorised by that Department.	Functions conferred on it or him by the enactments relating to companies or insolvency.
F6 . . .	F6 . . .
F6 . . .	F6 . . .
F6 . . .	F6 . . .
F6 . . .	F6 . . .
F6 . . .	F6 . . .
F6 . . .	F6 . . .
The Bank of England.	[F7 Any of its functions]
[F8 The Financial Services Authority.	Functions under the enactments relating to friendly societies, under the Building Societies Act 1986 and under the Financial Services and Markets Act 2000.]
[F9 A body corporate established in accordance with section 212(1) of that Act.	Functions under the Financial Services Compensation Scheme, established in accordance with section 213 of that Act.
A recognised investment exchange or a recognised clearing house (as defined by section 285 of that Act).	Functions in its capacity as an exchange or clearing house recognised under that Act.
A body designated under section 326(1) of the Financial Services and Markets Act 2000.	Functions in its capacity as a body designated under that section.]
F6 . . .	F6 . . .
A body established by order under section 46 of this Act.	Functions under Part II of this Act.
A recognised supervisory or qualifying body within the meaning of Part II of this Act.	Functions as such a body.
F6 . . .	F6 . . .
F10 . . .	F10 . . .
The Official Receiver or, in Northern Ireland, the Official Assignee for company liquidations or for bankruptcy.	Functions under the enactments relating to insolvency.
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 M1 Insolvency Act 1986.
F6 . . .	F6 . . .
[F11 The Occupational Pensions Regulatory Authority.	F11 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.]
The Director General of Fair Trading.	Functions under the [F12 Financial Services and Markets Act 2000].
[F13 A person authorised by the Secretary of State under sections 245C of the Companies Act 1985.]	[F13 Functions relating to the securing of compliance by companies with the accounting requirements of that Act).]
[F14 The Director General of the National Lottery.	F14 Functions under sections 5 to 10 inclusive and section 15 of the National Lottery etc. Act 1993.]
[F15 The Scottish Ministers	Functions under the enactments relating to insolvency
The Accountant in Bankruptcy	Functions he has under the enactments relating to insolvency.]

(5) The Secretary of State may by order amend the Table in subsection (4) so as to—

(a) add any public or other authority to the Table and specify the relevant functions of that authority,

(b) remove any authority from the Table, or

(c) add functions to, or remove functions from, those which are relevant functions in relation to an authority specified in the Table;

and the order may impose conditions subject to which, or otherwise restrict the circumstances in which, disclosure is permitted.

(6) An order under this section shall be made by statutory instrument which shall be subject to annulment in pursuance of a resolution of either House of Parliament.

Textual Amendments

F1 S. 87(2)(b) substituted (1.12.2001) by S.I. 2001/3649, arts. 1, 77(2)

F2 S. 87(4): Entry in the Table substituted (1.12.2001) by S.I. 2001/3649, arts. 1, 77(5)

F3 S. 87(4): Entry in the Table substituted (1.12.2001) by S.I. 2001/3649, arts. 1, 77(6)

F4 S. 87(4): Entry in the Table substituted (1.12.2001) by S.I. 2001/3649, arts. 1, 77(7)

F5 S. 84(4): Entries in the Table substituted (1.12.2001) by S.I. 2001/3649, arts. 1, 77(8)

F6 S. 87(4): Entries in the Table repealed (1.12.2001) by S.I. 2001/3649, arts. 1, 77(4)

F7 S. 87(4) Table: words inserted (1.6.1998) by 1998 c. 11, s. 23, Sch. 5 Pt. IV c. II para. 66(3); S.I. 1998/1120, art. 2

F8 S. 84(4); Entry in the Table substituted (1.12.2001) by S.I. 2001/3649, arts. 1, 77(9)

F9 S. 84(4): Entries in the Table inserted (1.12.2001) by S.I. 2001/3649, arts. 1, 77(10)

F10 S. 87(4): Entry in the Table omitted (30.4.2001) by virtue of S.I. 2001/1283, art. 3(4)

F11 S. 87(4) Table: entry inserted (6.4.1997) by 1995 c. 26, s. 122, Sch. 3 para. 19 (with s. 121(5)); S.I. 1997/664, art. 2(3), Sch. Pt. II

F12 Words in the Table in s. 84(4) substituted (1.12.2001) by S.I. 2001/3649, arts. 1, 77(11)

F13 S. 87(4) Table: entry inserted (16.8.1993) by S.I. 1993/1826, art. 3

F14 S. 87(4) Table: entry inserted (10.3.1994) by S.I. 1994/340, art. 3

F15 S. 87(4) Table: entries inserted (1.7.1999) by S.I. 1999/1820, art. 4, Sch. 2 Pt. I para. 96

Modifications etc. (not altering text)

C1 S. 87 amended (temp. from 3.9.2001) by S.I. 2001/2966, art. 7

S. 87 disclosure powers extended (14.12.2001) by 2001 c. 24, ss. 17, 127, Sch. 4 Pt. I para. 28

C2 S. 87(1)(b) restricted (14.8.2002) by S.I. 2002/1889, art. 3(4)

Commencement Information

I1 S. 87 wholly in force at 25.4.1991 see s. 215 and S.I. 1990/142 and 1991/878, art. 2, Sch.

Marginal Citations

M1 1986 c. 45.