Financial Services and Markets Act 2023

Restrictions on disclosure of confidential information U.K.

149 (1) Sections 348, 349, 352 and 353 of FSMA 2000 (disclosure of information) apply for the purposes of this Schedule with the following modifications.

(2) Section 348 of that Act has effect as if —

(a) in subsection (2)(b), after “Act” there were inserted “or of the Bank of England under Schedule 11 to the Financial Services and Markets Act 2023”,

(b) in subsection (3)(a), at the end there were inserted “or the Financial Services and Markets Act 2023”,

(c) in subsection (5)—

(i) after paragraph (c) there were inserted—

“(ca) a person appointed to make a report under paragraph 120 of Schedule 11 to the Financial Services and Markets Act 2023 (reports by skilled persons);

(cb) a person appointed to act as a temporary manager under paragraph 6 of Schedule 11 to the Financial Services and Markets Act 2023,”

(ii) in paragraph (e) for “to (c)” there were substituted “to (cb)”, and

(d) after subsection (6)(b) there were inserted—

“(c) a competent person appointed by the Bank of England under Part 6 of Schedule 11 to the Financial Services and Markets Act 2023.”

(3) Section 349 of that Act has effect as if, in subsection (2)(c), for “or the PRA” there were substituted “the PRA or the Bank of England”.

(4) Section 353 of that Act has effect as if in subsection (1)—

(a) in paragraph (a)—

(i) after “under this Act” there were inserted “or the Financial Services and Markets Act 2023”, and

(ii) for “it” there were substituted “those Acts”;

(b) in paragraph (b) after “to the” there were inserted “Bank of England, the”.

Commencement Information

I1 Sch. 11 para. 149 not in force at Royal Assent, see s. 86(3)

I2 Sch. 11 para. 149 in force at 31.12.2023 by S.I. 2023/1382, reg. 8(b)