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The Payment and Electronic Money Institution Insolvency Regulations 2021
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- UK Statutory Instruments
- 2021 No. 716
- Regulation 28
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Objectives 1 and 3: TAs: disclosure of information
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28.—(1) The administrator may, where necessary for the purposes of a TA, disclose to the transferee all information which is, in the administrator’s view, relevant to the transfer of—
(a)relevant funds,
(b)any rights or liabilities under the corresponding PS or EMI contracts,
(c)any rights and liabilities under other PS or EMI contracts for which no relevant funds are held at the time of transfer.
(2) Paragraph (1) overrides any contractual or other requirement to keep information in confidence.
(3) Nothing in this regulation requires or authorises a disclosure of information that would contravene the data protection legislation (but in determining whether a disclosure would do so, take into account the duties and powers imposed or conferred by these Regulations).
(4) “Data protection legislation” has the same meaning as in the Data Protection Act 2018(1) (see section 3(9) of that Act).
(1)
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