SCHEDULE 6 U.K.Application and modification of legislation

PART 1 U.K.Application and modification of the 2000 Act

Restriction on disclosure of information U.K.

8.—(1) Sections 348 (restrictions on disclosure of confidential information by FCA, PRA etc) M1 , 349 (exceptions from section 348) M2 and 352 (offences) M3 of the 2000 Act apply with the following modifications—

(a) section 348 is to be read as if—

(i) in subsection (2)(b) for the words from “, the PRA” to the end there were substituted “ under the Payment Services Regulations 2017 ”;

(ii) in subsection (3)(a) for “this Act” there were substituted “ the Payments Services Regulations 2017 ”;

(iii) in subsection (5)—

(aa) for “this Part”, there were substituted “ the Payment Services Regulations 2017 ”;

(bb) paragraphs (aa), (c) and (zd) were omitted;

(cc) in paragraph (e) for “paragraphs (a) to (c)” there were substituted “ paragraph (a) ”;

(iv) for subsection (6) there were substituted—

“(6) In subsection (5)(f), “expert” includes any body or person appointed under regulation 108 of the Payment Services Regulations 2017 to perform a function on behalf of the FCA.”;

(v) subsection (8) were omitted.

(b) section 349 is to be read as if subsections (3A) and (3B) were omitted.

Marginal Citations

M1 Section 348 was amended by paragraph 26 of Schedule 2 to the Financial Services Act 2010, paragraph 18 of Schedule 12 to the Financial Services Act 2012, paragraph 5 of Schedule 8 to the Financial Services (Banking Reform) Act 2013 and paragraph 45 of Schedule 2 to the Bank of England and Financial Services Act 2016, and by S.I. 2016/1239.

M2 Section 349 was amended by section 964 of the Companies Act 2006 (c. 46) and paragraph 19 of Schedule 12 to the Financial Services Act 2012, and by S.I. 2006/1183, 2007/1093 and 2011/1043.

M3 Section 352 was amended by paragraph 54 of Schedule 26 to the Criminal Justice Act 2003.