The Companies (Disclosure of Information) (Designated Authorities) Order 1988

Statutory Instruments

1988 No. 1334

COMPANIES

The Companies (Disclosure of Information) (Designated Authorities) Order 1988

Made

28th July 1988

Laid before Parliament

28th July 1988

Coming into force

19th August 1988

The Secretary of State in exercise of the powers conferred by section 449(1B) and (1C) of the Companies Act 1985(1) hereby makes the following Order:

Citation and Commencement

1.  This Order may be cited as the Companies (Disclosure of Information) (Designated Authorities) Order 1988 and shall come into force on 19th August 1988.

Designation of authorities and specification of functions

2.  For the purposes of section 449 of the Companies Act 1985—

(a) the Director General of Fair Trading is designated as an authority in relation to his functions under the Fair Trading Act 1973(2) (other than Parts II and III of that Act), the Restrictive Trade Practices Act 1976(3) and the Competition Act 1980(4); and

(b) the Monopolies and Mergers Commission is designated as an authority in relation to its functions under the Fair Trading Act 1973 and the Competition Act 1980.

Francis Mande

Parliamentary Under Secretary of State,

Department of Trade and Industry

28th July 1988

Explanatory Note

(This note is not part of the Order)

This Order designates the Director General of Fair Trading and the Monopolies and Mergers Commission as authorities for the purposes of section 449 of the Companies Act 1985 in relation to their functions under the Fair Trading Act 1973, the Restrictive Trade Practices Act 1976 and the Competition Act 1980. The effect of designation is to permit the disclosure of information which would otherwise be restricted if disclosure is for the purposes of enabling or assisting the designated authority to discharge the specified functions. There have been four previous orders designating public or other authorities for the purposes of Section 449 (S.I. 1986/2046, 1987/859/1141 and 1988/1058).

(1)

1985 c. 6; subsections (1B) and (1C) of section 449 of the Companies Act 1985 were inserted by paragraph 9 of Schedule 13 to the Financial Services Act 1986 (c. 60).

(2)

1973 c. 41.

(3)

1976 c. 34.

(4)

1980 c. 21.