SCHEDULES
SCHEDULE 2Investment contracts
PART 1Introductory
Confidential information
3
1
For the purposes of paragraphs 1 and 2, “confidential information” means specified information to which sub-paragraph (3) applies and in relation to which it is an initial term of the contract that it should not be disclosed.
2
For the purposes of sub-paragraph (1)—
a
a term is an initial term if it is agreed at the time the investment contract is entered into or, in relation to a varied investment contract, at the time the variation is agreed;
b
“specified” means specified in the initial term.
3
This sub-paragraph applies to information if it is—
a
not the strike price or the reference price;
b
information which, in the opinion of the Secretary of State at the time the initial term is agreed, constitutes a trade secret;
c
information the disclosure of which, in the opinion of the Secretary of State at that time, would or would be likely to prejudice the commercial interests of any person;
d
information the disclosure of which would, in the opinion of the Secretary of State at that time, constitute a breach of confidence actionable by any person.