Companies Act 1989

87 Exceptions from restrictions on disclosure. U.K.

(1) Information to which section 86 applies may be disclosed—

(a) to any person with a view to the institution of, or otherwise for the purposes of, relevant proceedings,

(b) for the purpose of enabling or assisting a relevant authority to discharge any relevant function (including functions in relation to proceedings),

(c) to the Treasury, if the disclosure is made in the interests of investors or in the public interest,

(d) if the information is or has been available to the public from other sources,

(e) in a summary or collection of information framed in such a way as not to enable the identity of any person to whom the information relates to be ascertained, or

(f) in pursuance of any Community obligation.

(2) The relevant proceedings referred to in subsection (1)(a) are—

(a) any criminal proceedings,

(b) civil proceedings arising under or by virtue of the M1 Financial Services Act 1986 and proceedings before the Financial Services Tribunal, and

(c) disciplinary proceedings relating to—

(i) the exercise by a solicitor, auditor, accountant, valuer or actuary of his professional duties, or

(ii) the discharge by a public servant of his duties.

(3) In subsection (2)(c)(ii) “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 provision by order of the Secretary of State.

(4) The relevant authorities referred to in subsection (1)(b), and the relevant functions in relation to each such authority, are as follows—

Authority	Functions
The Secretary of State.	Functions under the enactments relating to companies, insurance companies or insolvency, or under the Financial Services Act 1986 or Part II, this Part or Part VII of this Act.
[F1 The Treasury]	[F1 Functions under the Financial Services Act 1986 or under this Part or Part VII of this Act.]
An inspector appointed under Part XIV of the M2 Companies Act 1985 or section 94 or 177 of the Financial Services Act 1986.	Functions under that Part or that section.
A person authorised to exercise powers [F2 or appointed under section 43A or 44] of the M3 Insurance Companies Act 1982, section 447 of the Companies Act 1985, section 106 of the Financial Services Act 1986 or section 84 of this Act.	Functions under that section.
An overseas regulatory authority.	Its regulatory functions (within the meaning of section 82 of this Act).
The Department of Economic Development in Northern Ireland or a person appointed or authorised by that Department.	Functions conferred on it or him by the enactments relating to companies or insolvency.
A designated agency within the meaning of the M4 Financial Services Act 1986.	Functions under that Act or Part VII of this Act.
A transferee body or the competent authority within the meaning of the Financial Services Act 1986.	Functions under that Act.
The body administering a scheme under section 54 of the Financial Services Act 1986.	Functions under the scheme.
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 that Act.
The Chief Registrar of friendly societies, F3 . . . and the Assistant Registrar of Friendly Societies for Scotland.	Functions under F3 . . . the enactments relating to friendly societies or building societies.
[F4 The Friendly Societies Commission.]	[F4 Functions under the enactments relating to friendly societies or under the Financial Services Act 1986.]
The Bank of England.	Functions under the M5 Banking Act 1987 and any other functions.
The Deposit Protection Board.	Functions under the Banking Act 1987.
A body established by order under section 46 of this Act.	Functions under Part II of this Act.
A recognised supervisory or qualifying body within the meaning of Part II of this Act.	Functions as such a body.
The Industrial Assurance Commissioner and the Industrial Assurance Commissioner for Northern Ireland.	Functions under the enactments relating to industrial assurance.
The Insurance Brokers Registration Council.	Functions under the M6 Insurance Brokers (Registration) Act 1977.
The Official Receiver or, in Northern Ireland, the Official Assignee for company liquidations or for bankruptcy.	Functions under the enactments relating to insolvency.
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 M7 Insolvency Act 1986.
The Building Societies Commission.	Functions under the M8 Building Societies Act 1986.
The Director General of Fair Trading.	Functions under the Financial Services Act 1986.
[F5 A person authorised by the Secretary of State under sections 245C of the Companies Act 1985.]	[F5 Functions relating to the securing of compliance by companies with the accounting requirements of that Act]
[F6 The Director General of the National Lottery.]	[F6 Functions under sections 5 to 10 inclusive and section 15 of the National Lottery etc. Act 1993.]

(5) The Secretary of State may by order amend the Table in subsection (4) so as to—

(a) add any public or other authority to the Table and specify the relevant functions of that authority,

(b) remove any authority from the Table, or

(c) add functions to, or remove functions from, those which are relevant functions in relation to an authority specified in the Table;

and the order may impose conditions subject to which, or otherwise restrict the circumstances in which, disclosure is permitted.

(6) An order under this section shall be made by statutory instrument which shall be subject to annulment in pursuance of a resolution of either House of Parliament.

Textual Amendments

F1 S. 87(4) Table: entry inserted (7.6.1992) by S.I. 1992/1315, art. 10(1), Sch. 4, para. 12 (with art. 6).

F2 S. 87(4) Table: by S.I. 1994/1696, regs. 1(1), 68, Sch. 8 Pt. I para.18 words are expressed to be substituted (1.7.1994) for 'under section 44' in the third entry in the table

F3 S. 87(4) Table: words repealed (1.1.1994) by 1992 c. 40, s. 120(2), Sch. 22 Pt. I (with ss. 7(5), 93(4)); S.I. 1993/2213, art. 2, Sch. 6

F4 S. 87(4) Table: entry inserted (1.2.1993) by Friendly Societies Act 1992 (c. 40), s. 120(1), Sch. 21 Pt. I para. 11 (with ss. 7(5), 93(4)); S.I. 1993/16, art. 2, Sch. 3

F5 S. 87(4) Table: entry inserted (16.8.1993) by S.I. 1993/1826, art. 3

F6 S. 87(4) Table: entry inserted (10.3.1994) by S.I. 1994/340, art. 3

Commencement Information

I1 S. 87 wholly in force at 25.4.1991 see s. 215 and S.I. 1990/142 and 1991/878, art. 2, Sch.

Marginal Citations

M1 1986 c. 60.

M2 1985 c. 6.

M3 1982 c. 50.

M4 1986 c. 60.

M5 1987 c. 22.

M6 1977 c. 46.

M7 1986 c. 45.

M8 1986 c. 53.