The Financial Services (Disclosure of Information) (Designated Authorities) (No. 8) Order 1994

Statutory Instruments

1994 No. 340

FINANCIAL SERVICES

The Financial Services (Disclosure of Information) (Designated Authorities) (No. 8) Order 1994

Made

15th February 1994

Laid before Parliament

17th February 1994

Coming into force

10th March 1994

The Secretary of State, in exercise of the powers conferred on him by section 180(3) and (4) of the Financial Services Act 1986(1), section 449(1B) and (1C) of the Companies Act 1985(2) and section 87(5) of the Companies Act 1989(3), hereby makes the following Order:–

Citation and commencement

1.  This Order may be cited as the Financial Services (Disclosure of Information) (Designated Authorities) (No. 8) Order 1994 and shall come into force on 10th March 1994.

Designation of authorities and specification of functions

2.  For the purposes of section 180(3) of the Financial Services Act 1986 and section 449(1B) of the Companies Act 1985, the Director General of the National Lottery is designated as an authority in relation to his functions under sections 5 to 10 inclusive and section 15 of the National Lottery etc. Act 1993(4).

3.  In the Companies Act 1989, in section 87, in the Table of relevant authorities and functions contained in subsection (4), the following shall be inserted at the end:–

“The Director General of the National Lottery.

Functions under sections 5 to 10 inclu– sive and section 15 of the National Lottery etc. Act 1993.”

Neil Hamilton

Parliamentary Under Secretary of State,

Department of Trade and Industry

15th February 1994

Explanatory Note

(This note is not part of the Order)

This Order designates the Director General of the National Lottery, as an authority (in relation to his functions under sections 5 to 10 inclusive and section 15 of the National Lottery etc. Act 1993), for the purposes of section 180(3) of the Financial Services Act 1986, section 449(1B) of the Companies Act 1985 and section 87 of the Companies Act 1989. Those sections make provision in relation to the circumstances in which certain information obtained for the purposes of those Acts may be disclosed. The Director General of the National Lottery is appointed to that office by the Secretary of State under section 3 of the National Lottery etc. Act 1993. The effect of the designation made by this Order 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 eight previous orders designating public or other authorities for the purposes of either or both of section 180 of the Financial Services Act 1986 and section 449 of the Companies Act 1985 (S.I. 1986/2046, 1987/859, 1141, 1988/1058, 1334, 1989/940, 2009, 1993/1826). One previous order has been made under section 87 of the Companies Act 1989 (S.I. 1993/1826).

(1)

1986 c. 60; subsection (3) of section 180 of the Financial Services Act 1986 was amended by section 75 of the Companies Act 1989.

(2)

1985 c. 6; subsections (1B) and (1C) of section 449 of the Companies Act 1985 were inserted by section 182 of and paragraph 9 of Schedule 13 to the Financial Services Act 1986 and subsection (1B) was amended by section 65 of the Companies Act 1989.

(3)

1989 c. 40.

(4)

1993 c. 39.