Banking Act 1987 (repealed)

84 Obstruction of investigations. U.K.

(1) Section 82 above does not preclude the disclosure by the Bank of information to any person specified in the first column of the following Table if the Bank 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
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 [F1 , the Financial Services Act 1986 or Part II, III or VII of the Companies Act 1989].
[F2 An inspector appointed under Part XIV of the Companies Act 1985 or section 94 or 177 of the Financial Services Act 1986.]	[F2 Functions under that Part or that section.]
[F3 A person authorised to exercise powers under section 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.]	[F3 Functions under that section.]
The Chief Registrar of friendly societies, the Registrar of Friendly Societies for Northern Ireland and the Assistant Registrar of Friendly Societies for Scotland.	Functions under the enactments relating to friendly societies or under the Financial Services Act 1986.
The Industrial Assurance Commissioner and the Industrial Assurance Commissioner for Northern Ireland.	Functions under the enactments relating to industrial assurance.
The Building Societies Commission.	Functions under the M4 Building Societies Act 1986 and protecting the interests of the shareholders and depositors of building societies.
The Director General of Fair Trading.	Functions under the M5 Consumer Credit Act 1974.
[F4 A designated agency (within the meaning of the Financial Services Act 1986.]	[F4 Functions under the Financial Services Act 1986 or Part VII of the Companies Act 1989.]
[F4 A transferee body or the competent authority (within the meaning of the Financial Services Act 1986).]	[F4 Functions under the Financial Services Act 1986.]
A recognised self-regulating organisation, recognised professional body, recognised investment exchange, recognised clearing house 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, exchange or clearing house recognised under the Financial Services Act 1986.
. . . F5	. . . F5
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.
The Department of Economic Development in Northern Ireland.	Functions under Part XV of the Companies (Northern Ireland) Order M6 1986 [F6 or Part XII of the Insolvency (Northern Ireland) Order 1989][F7 or Part III of the Companies (Northern Ireland) Order 1990 or Part II or V of the Companies (No. 2) (Northern Ireland) Order 1990].
[F8 An inspector appointed under Part XV of the Companies (Northern Ireland) Order 1986 or under Article 16A of the Companies Securities (Insider Dealing) (Northern Ireland) Order 1986]	[F8 Functions under that Part or that Article.]
[F8 A person authorised to exercise powers under Article 440 of the Companies (Northern Ireland) Order 1986 or section 84 of the Companies Act 1989.]	[F8 Functions under that Article or section.]
The Official Receiver or, in Northern Ireland, the Official [F9 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, [F9 or bankruptcy order]has been made.
[F10 Panel on Take-overs and Mergers]	[F10 All its functions]
[F11 A person included in the list maintained by the Bank for the purposes of section 171 of the Companies Act 1989.]	[F11 Functions under settlement arrangements to which regulations under that section relate.]
[F12 A recognised professional body (within the meaning of Article 350 of the Insolvency (Northern Ireland) Order 1989).]	[F12 Functions in its capacity as such a body under the Insolvency (Northern Ireland) Order 1989.]

(2) The Treasury may after consultation with the Bank 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 Bank 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 Bank 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 Bank shall take account of such representations made by him as to the desirability of or the necessity for the disclosure.

(5) Section 82 above does not preclude the disclosure by the Bank of information to the Treasury if disclosure appears to the Bank to be desirable or expedient in the interests of depositors or in the public interest; and that section does not preclude the disclosure by the Bank 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 Bank to be necessary in the interests of depositors or in the public interest; or

(b) in any other case, disclosure appears to the Bank to be necessary in the interests of depositors.

(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 Bank under this Act;

(ii) the Secretary of State 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 the M10 Company Securities (Insider Dealing) Act 1985 or Part VII of the M11 Financial Services Act 1986; or

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

Textual Amendments

F1 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.)

F2 Entry substituted by Companies Act 1989 (c. 40, SIF 27), s. 81(3)

F3 Entry substituted by Companies Act 1989 (c. 40, SIF 27), s. 81(4)

F4 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.)

F5 Entry repealed by Companies Act 1989 (c. 40, SIF 27), s. 212, Sch. 24

F6 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

F7 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)

F8 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)

F9 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

F10 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

F11 Entries in s. 84(1) Table added (25.9.1991 for specified purposes and otherwiseprosp.) by Companies Act 1989 (c. 40, SIF 27), ss. 171(7), 215(2); S.I. 1991/488, art. 2(2)

F12 Entries 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

Modifications etc. (not altering text)

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

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 1985 c. 8.

M11 1986 c. 60.