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Version Superseded: 01/12/2001
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Insurance Companies Act 1982 (repealed), Paragraph 5 is up to date with all changes known to be in force on or before 12 August 2024. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations.
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5(1)Paragraph 1 above applies also to information which—
(a)has been supplied to [F2the Treasury or] the Secretary of State for the purposes of any relevant functions by a supervisory authority in a member State other than the United Kingdom; or
(b)has been obtained for those purposes by [F3the Treasury or] the Secretary of State, or by a person acting on [F4their behalf], in another member State.
(2)Subject to sub-paragraphs (3) and (4) below, information supplied or obtained as mentionedin sub-paragraph (1)(a) or (b) above shall not be disclosed except as provided by paragraph 1 above or—
(a)for the purpose of enabling or assisting [F5the Treasury or] the Secretary of State to discharge any relevant functions; or
(b)with a view to the institution of, or otherwise for the purposes of, criminal proceedings, whether under this Act or otherwise.
(3)Information supplied as mentioned in sub-paragraph (1)(a) above may be disclosed—
(a)to a relevant recipient, if the supervisory authority which supplied the information consents to its disclosure and the case is one in which information to which paragraph 1 above applies could be so disclosed by virtue of paragraph 3(1) above; or
(b)to the Treasury or the Secretary of State, if that authority consents to its disclosure and the case is one in which information to which paragraph 1 above applies could be so disclosed by virtue of paragraph 3(3) above.
(4)Information obtained as mentioned in sub-paragraph (1)(b) above may be disclosed—
(a)to a relevant recipient, if the supervisory authority in the member State concerned consents to its disclosure and the case is one in which information to which paragraph 1 above applies could be so disclosed by virtue of paragraph 3(1) above; or
(b)to the Treasury or the Secretary of State, if that authority consents to its disclosure and the case is one in which information to which paragraph 1 above applies could be so disclosed by virtue of paragraph 3(3) above.
[F6(4A)Before [F7the Treasury or] the Secretary of State discloses information to any person under sub-paragraph (3) above, [F8they] shall notify the supervisory authority which supplied the information of the name and responsibilities of that person.]
(5)In this paragraph—
“relevant functions”,
[F9(a)in relation to the Treasury means their functions under this Act, and
(b) in relation to the Secretary of State, means his functions under this Act]
“relevant recipient” means a person specified in any of entries 1 to 7, 12, 13 and 17 in the Table in paragraph 3(1) above.
Textual Amendments
F2Words in Sch. 2B para. 5(1)(a) inserted (5.1.1998) by S.I. 1997/2781, art. 8, Sch. Pt. I para. 57(a)(i) (with art. 7)
F3Words in Sch. 2B para. 5(1)(b) inserted (5.1.1998) by S.I. 1997/2781, arts. 2(1)(c), 8, Sch. Pt. I para. 57(a)(ii) (with art. 7)
F4Words in Sch. 2B para. 5(1)(b) substituted (5.1.1998) by S.I. 1997/2781, arts. 2(1)(c), 8, Sch. Pt. I para. 57(a)(iii) (with art. 7)
F5Words in Sch. 2B para. 5(2)(a) inserted (5.1.1998) by S.I. 1997/2781, art. 8, Sch. Pt. I para. 57(b) (with art. 7)
F6Sch. 2B para. 5(4A) inserted (18.7.1996) by S.I. 1996/1669, reg. 20(3) (with reg. 5(6))
F7Words in Sch. 2B para. 5(4A) inserted (5.1.1998) by S.I. 1997/2781, art. 8, Sch. Pt. I para. 57(c)(i) (with art. 7)
F8Word in Sch. 2B para. 5(4A) substituted (5.1.1998) by S.I. 1997/2781, art. 8, Sch. Pt. I para. 57(c)(ii) (with art. 7)
F9Sch. 2B para. 5(5): words in definition of “relevant functions" inserted (5.1.1998) by S.I. 1997/2781, art. 8, Sch. Pt. I para. 57(d) (with art. 7)
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