- Latest available (Revised)
- Point in Time (01/01/1994)
- Original (As enacted)
Version Superseded: 01/03/1994
Point in time view as at 01/01/1994. This version of this provision has been superseded.
You are viewing this legislation item as it stood at a particular point in time. A later version of this or provision, including subsequent changes and effects, supersedes this version.
Note the term provision is used to describe a definable element in a piece of legislation that has legislative effect – such as a Part, Chapter or section.
Companies Act 1985, Section 449 is up to date with all changes known to be in force on or before 10 September 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.
Changes and effects yet to be applied by the editorial team are only applicable when viewing the latest version or prospective version of legislation. They are therefore not accessible when viewing legislation as at a specific point in time. To view the ‘Changes to Legislation’ information for this provision return to the latest version view using the options provided in the ‘What Version’ box above.
(1)No information or document relating to a [F1company] which has been obtained under section 447 . . . F2 shall, without the previous consent in writing of that [F1company], be published or disclosed, except to a competent authority, unless the publication or disclosure is required—
[F3(a)with a view to the institution of or otherwise for the purposes of criminal proceedings;]
[F4(ba)with a view to the institution of, or otherwise for the purposes of, any proceedings on an application under [F5section 6, 7 or 8 of the Company Directors Disqualification Act 1986],]
[F6(c)for the purposes of enabling or assisting any inspector appointed under this Part, or under section 94 or 177 of the Financial Services Act 1986, to discharge his functions;]
[F7(cc)for the purpose of enabling or assisting any person authorised to exercise powers under section 44 of the Insurance Companies Act 1982, section 447 of this Act, section 106 of the Financial Services Act 1986 or section 84 of the Companies Act 1989 to discharge his functions;]
[F8(d)for the purpose of enabling or assisting the [F9Secretary of State or the Treasury to exercise any of their functions] under this Act, the Insider Dealing Act, [F10the Prevention of Fraud (Investments) Act M11958], the Insurance Companies Act M21982, the Insolvency Act M31986, the Company Directors Disqualification Act M41986 [F11, the Financial Services Act 1986 or Part II, III or VII of the Companies Act 1989,].]
[F8(dd)for the purpose of enabling or assisting the Department of Economic Development for Northern Ireland to exercise any powers conferred on it by the enactments relating to companies or insolvency or for the purpose of enabling or assisting any inspector appointed by it under the enactments relating to companies to discharge his functions]
[F12(de)for the purpose of enabling or assisting the Chief Registrar of friendly societies or the Assistant Registrar of friendly societies for Scotland to discharge his functions under the enactments relating to friendly societies;
(df)for the purpose of enabling or assisting the Friendly Societies Commission to discharge its functions under the Financial Services Act 1986.]
(e). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
[F13(f)for the purpose of enabling or assisting the Bank of England to discharge its functions under [F14the Banking Act 1987] or any other functions,
(g)for the purpose of enabling or assisting the Deposit Protection Board to discharge its functions under that Act,
(h)for any purpose mentioned in section 180(1)(b), (e), (h), [F15or (n)] of the Financial Services Act 1986,
[F16(hh)for the purpose of enabling or assisting a body established by order under section 46 of the Companies Act 1989 to discharge its functions under Part II of that Act, or of enabling or assisting a recognised supervisory or qualifying body within the meaning of that Part to discharge its functions as such;]
(i)for the purpose of enabling or assisting the Industrial Assurance Commissioner or the Industrial Assurance Commissioner for Northern Ireland to discharge his functions under the enactments relating to industrial assurance,
(j)for the purpose of enabling or assisting the Insurance Brokers Registration Council to discharge its functions under the Insurance Brokers (Registration) Act M51977,
(k)for the purpose of enabling or assisting an official receiver to discharge his functions under the enactments relating to insolvency or for the purpose of enabling or assisting a body which is for the time being a recognised professional body for the purposes of section 391 of the Insolvency Act 1986 to discharge its functions as such,
(l)with a view to the institution of, or otherwise for the purposes of, any disciplinary proceedings relating to the exercise by a solicitor, auditor, accountant, valuer or actuary of his professional duties,
[F17(ll)with a view to the institution of, or otherwise for the purposes of, any disciplinary proceedings relating to the discharge by a public servant of his duties;]
[F18(m)for the purpose of enabling or assisting an overseas regulatory authority to exercise its regulatory functions.]]
[F19[F20(1A)In subsection (1)—
(a)in paragraph (ll) “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 paragraph by the Secretary of State by order made by statutory instrument; and
(b)in paragraph (m) “overseas regulatory authority” and “regulatory functions” have the same meaning as in section 82 of the Companies Act 1989.]
(1B)Subject to subsection (1C), subsection (1) shall not preclude publication or disclosure for the purpose of enabling or assisting any public or other authority for the time being [F21designated for the purposes of this subsection] by the Secretary of State by an order in a statutory instrument to discharge any functions which are specified in the order.
(1C)An order under subsection (1B) designating an authority for the purpose of that subsection may—
(a)impose conditions subject to which the publication or disclosure of any information or document is permitted by that subsection; and
(b)otherwise restrict the circumstances in which that subsection permits publication or disclosure.
(1D)Subsection (1) shall not preclude the publication or disclosure of any such information as is mentioned in section 180(5) of the Financial Services Act 1986 by any person who by virtue of that section is not precluded by section 179 of that Act from disclosing it.]
(2)A person who publishes or discloses any information or document in contravention of this section is guilty of an offence and liable to imprisonment or a fine, or both.
[F22Sections 732 (restriction on prosecutions), 733 (liability of individuals for corporate default) and 734 (criminal proceedings against unincorporated bodies) apply to this offence.]
[F23[F24(3)For the purposes of this section each of the following is a competent authority—
(a)the Secretary of State,
(b)an inspector appointed under this Part or under section 94 or 177 of the Financial Services Act 1986,
(c)any person authorised to exercise powers under section 44 of the Insurance Companies Act 1982, section 447 of this Act, section 106 of the Financial Services Act 1986 or section 84 of the Companies Act 1989,
(d)the Department of Economic Development in Northern Ireland,
(e)the Treasury,
(f)the Bank of England,
(g)the Lord Advocate,
(h)the Director of Public Prosecutions, and the Director of Public Prosecutions for Northern Ireland,
(i)any designated agency or transferee body within the meaning of the Financial Services Act 1986, and any body administering a scheme under section 54 of or paragraph 18 of Schedule 11 to that Act (schemes for compensation of investors),
(j)the Chief Registrar of friendly societies F25. . .,
[F26(jj)the Friendly Societies Commission]
(k)the Industrial Assurance Commissioner [F27and the Industrial Assurance Commissioner for Northern Ireland],
(l)any constable,
(m)any procurator fiscal.
(3A)Any information which may by virtue of this section be disclosed to a competent authority may be disclosed to any officer or servant of the authority.]]
[F23(4)A statutory instrument containing an order under [F28subsection (1A)(a) or (1B)] is subject to annulment in pursuance of a resolution of either House of Parliament.]
Textual Amendments
F1The word “company” substituted (21.2.1990 to the extent mentioned in S.I. 1990/142, art. 4, otherwise 25.4.1991) for the word “body” by Companies Act 1989 (c. 40, SIF 27), s. 65(2)(a); S.I. 1990/142, art. 4; S.I. 1991/878, art. 2, Sch.
F2Words repealed by Companies Act 1989 (c. 40, SIF 27), ss. 212, 213(2), Sch. 24
F3S. 449(1)(a) substituted for s. 449(1)(a)(b) by Financial Services Act 1986 (c. 60, SIF 69), s. 182, Sch. 13 para. 9(1)(a)
F4S. 449(1)(ba) inserted by Insolvency Act 1985 (c. 65, SIF 27), s. 109, Sch. 6 para. 4
F5Words substituted by Insolvency Act 1986 (c. 45, SIF 66), s. 439(1), Sch. 13 Pt. I
F6S. 449(1)(c) substituted (21.2.1990 to the extent mentioned in S.I. 1990/142, art. 4 otherwise 25.4.1991) by Companies Act 1989 (c. 40, SIF 27), s. 65(2)(b); S.I. 1990/142, art. 4; S.I. 1991/878, art. 2, Sch.
F7S. 449(1)(cc) inserted (21.2.1990 to the extent mentioned in S.I. 1990/142, art. 4 otherwise 25.4.1991) by Companies Act 1989 (c. 40, SIF 27), s. 65(2)(c); S.I. 1990/142, art. 4; S.I. 1991/878, art. 2, Sch.
F8S. 449(1)(d)(dd) substituted for para. (d) by Financial Services Act 1986 (c. 60, SIF 69), s. 182, Sch. 13 para. 9(1)(b)
F9Words in s. 449(1)(d) substituted (7.7.1992) by S.I. 1992/1315, art. 10(1), Sch. 4 para. 1
F10Words repealed (29.4.1988 to the extent mentioned in S.I. 1988/740, art. 2, Sch. otherwiseprosp.) by Financial Services Act 1986 (c. 60, SIF 69), ss. 211, 212(3), Sch. 17 Pt. I
F11Words “, the” to “Act 1989,” substituted (21.2.1990 to the extent mentioned in S.I. 1990/142, art. 4 and otherwise 25.4.1991) for the words “or the” to “1986” by Companies Act 1989 (c. 40, SIF 27), s. 65(2)(d); S.I. 1990/142, art. 4; S.I. 1991/878, art. 2, Sch.
F12S. 449(1)(de)(df) inserted (1.2.1993) by Friendly Societies Act 1992 (c. 40), s. 120(1), Sch. 21 Pt. I para. 7(1) (with ss. 7(5), 93(4)); S.I. 1993/16, art. 2, Sch. 3
F13S. 449(1)(f)–(m) inserted by Financial Services Act 1986 (c. 60, SIF 69), s. 182, Sch. 13 para. 9(1)(c)
F14Words substituted by Banking Act 1987 (c. 22, SIF 10), s. 108(1), Sch. 6 para. 18(7)
F15Words “or (n)” substituted (21.2.1990 to the extent mentioned in S.I. 1990/142, art. 4 otherwise 25.4.1991) for the words “(n) or (p)” by Companies Act 1989 (c. 40, SIF 27), s. 65(2)(f); S.I. 1990/142, art. 4; S.I. 1991/878, art. 2, Sch.
F16Para. (hh) inserted (21.2.1990 to the extent mentioned in S.I. 1990/142, art. 4, 25.4.1991 to the extent mentioned in S.I. 1991/878, art. 2, Sch and otherwiseprosp.) by Companies Act 1989 (c. 40, SIF 27), ss. 65(2)(g), 215(2); S.I. 1990/142, art. 4; S.I. 1991/878, art. 2, Sch.
F17Para. (ll) inserted (21.2.1990 to the extent mentioned in S.I. 1990/142, art. 4 otherwise 25.4.1991) by Companies Act 1989 (c. 40, SIF 27), s. 65(2)(h); S.I. 1990/142, art. 4; S.I. 1991/878, art. 2, Sch.
F18Para. (m) ending with words “regulatory functions” substituted (21.2.1990 to the extent mentioned in S.I. 1990/142, art. 4 otherwise 25.4.1991) for para. (m) ending with the words “supervisory functions” by Companies Act 1989 (c. 40, SIF 27), s. 62(2)(i); S.I. 1990/142, art. 4; S.I. 1991/878, art. 2, Sch.
F19S. 449(1A)–(1D) inserted by Financial Services Act 1986 (c. 60, SIF 69), s. 182, Sch. 13 para. 9(2)
F20Subsection (1A) substituted by Companies Act 1989 (c. 40, SIF 27), ss. 65(3), 213(2)
F21Words substituted by Companies Act 1989 (c. 40, SIF 27), ss. 65(4), 213(2)
F22Sentence substituted by Companies Act 1989 (c. 40, SIF 27), ss. 65(5), 213(2)
F23S. 449(3) and new s. 449(4) substituted for s. 449(3) by Financial Services Act 1986 (c. 60, SIF 69), s. 182, Sch. 13 para. 9(3)
F24S. 449(3) and new s. 449(3A) substituted for s. 449(3) by Companies Act 1989 (c. 40, SIF 27), ss. 65(6), 213(2)
F25Words in s. 449(3)(j) repealed (1.1.1994) by Friendly Societies Act 1992 (c. 40), s. 120(2), Sch. 22 Pt. I (with ss. 7(5), 93(4)); S.I. 1993/3226, art. 2(1), Sch. 2Appendix
F26S. 449(3)(jj) inserted (1.2.1993) by Friendly Societies Act 1992 (c. 40), s. 120(1), Sch. 21 Pt. I para. 7(2) (with ss. 7(5), 93(4)); S.I. 1993/16, art. 2, Sch. 3
F27Words in s. 449(3)(k) repealed (1.1.1994) by Friendly Societies Act 1992 (c. 40), s. 120(2), Sch. 22 Pt. I (with ss. 7(5), 93(4)); S.I. 1993/3226, art. 2(1), Sch. 2Appendix
F28Words substituted by Companies Act 1989 (c. 40, SIF 27), ss. 65(7), 213(2)
Modifications etc. (not altering text)
C1S. 449 extended (with modifications) by S.I. 1989/638, regs. 18, 21, Sch. 4 para. 11
C2S. 449 modified by Companies Act 1989 (c. 40, SIF 27), ss. 88(3)(b)(5)(6), 213(2)
C3S. 449(1A) amended by S.I. 1987/942, art. 11
Marginal Citations
The Whole Act you have selected contains over 200 provisions and might take some time to download. You may also experience some issues with your browser, such as an alert box that a script is taking a long time to run.
Would you like to continue?
The Whole Act you have selected contains over 200 provisions and might take some time to download.
Would you like to continue?
The Whole Act without Schedules you have selected contains over 200 provisions and might take some time to download. You may also experience some issues with your browser, such as an alert box that a script is taking a long time to run.
Would you like to continue?
The Whole Act without Schedules you have selected contains over 200 provisions and might take some time to download.
Would you like to continue?
The Whole Act you have selected contains over 200 provisions and might take some time to download. You may also experience some issues with your browser, such as an alert box that a script is taking a long time to run.
Would you like to continue?
The Whole Act without Schedules you have selected contains over 200 provisions and might take some time to download. You may also experience some issues with your browser, such as an alert box that a script is taking a long time to run.
Would you like to continue?
The Schedules you have selected contains over 200 provisions and might take some time to download. You may also experience some issues with your browser, such as an alert box that a script is taking a long time to run.
Would you like to continue?
Latest Available (revised):The latest available updated version of the legislation incorporating changes made by subsequent legislation and applied by our editorial team. Changes we have not yet applied to the text, can be found in the ‘Changes to Legislation’ area.
Original (As Enacted or Made): The original version of the legislation as it stood when it was enacted or made. No changes have been applied to the text.
Point in Time: This becomes available after navigating to view revised legislation as it stood at a certain point in time via Advanced Features > Show Timeline of Changes or via a point in time advanced search.
Geographical Extent: Indicates the geographical area that this provision applies to. For further information see ‘Frequently Asked Questions’.
Show Timeline of Changes: See how this legislation has or could change over time. Turning this feature on will show extra navigation options to go to these specific points in time. Return to the latest available version by using the controls above in the What Version box.
Access essential accompanying documents and information for this legislation item from this tab. Dependent on the legislation item being viewed this may include:
This timeline shows the different points in time where a change occurred. The dates will coincide with the earliest date on which the change (e.g an insertion, a repeal or a substitution) that was applied came into force. The first date in the timeline will usually be the earliest date when the provision came into force. In some cases the first date is 01/02/1991 (or for Northern Ireland legislation 01/01/2006). This date is our basedate. No versions before this date are available. For further information see the Editorial Practice Guide and Glossary under Help.
Use this menu to access essential accompanying documents and information for this legislation item. Dependent on the legislation item being viewed this may include:
Click 'View More' or select 'More Resources' tab for additional information including: