Banking Act 1987

87 Disclosure of information obtained under other Acts

(1) After section 174(3) of the [1974 c. 39.] Consumer Credit Act 1974 there shall be inserted—

“(3A) Subsections (1) and (2) do not apply to any disclosure of information by the Director to the Bank of England for the purpose of enabling or assisting the Bank to discharge its functions under the Banking Act 1987 or the Director to discharge his functions under this Act.”

(2) Information disclosed to the Bank under subsection (1) of section 449 of the [1985 c. 6.] Companies Act 1985 for the purpose of enabling or assisting it to discharge its functions under this Act or in its capacity as a competent authority under subsection (3) of that section may be disclosed—

(a) with the consent of the Secretary of State, in any case in which information to which section 82 applies could be disclosed by virtue of section 84(1) or (2) above; and

(b) in any case in which information to which section 82 above applies could be disclosed by virtue of any of the other provisions of this Part of this Act.

(3) Information disclosed to the Bank under paragraph (1) of Article 442 of the [S.I. 1986/1032 (N.I. 6).] Companies (Northern Ireland) Order 1986 for the purpose of enabling or assisting it to discharge its functions under this Act or in its capacity as a competent authority under paragraph (3) of that Article may be disclosed—

(a) with the consent of the Secretary of State, in any case in which information to which section 82 above applies could be disclosed by virtue of section 84(1) or (2) above; and

(b) in any case in which information to which section 82 above applies could be disclosed by virtue of any of the other provisions of this Part of this Act.

(4) Any information which has been lawfully disclosed to the Bank may be disclosed by it to the Board of Banking Supervision so far as necessary for enabling or assisting the Board to discharge its functions under this Act.