Section 87: Exceptions from restrictions on disclosure., Companies Act 1989

Information to which section 86 applies may be disclosed—

to any person with a view to the institution of, or otherwise for the purposes of, relevant proceedings,

for the purpose of enabling or assisting a relevant authority to discharge any relevant function (including functions in relation to proceedings),

to the Treasury, if the disclosure is made in the interests of investors or in the public interest,

if the information is or has been available to the public from other sources,

in a summary or collection of information framed in such a way as not to enable the identity of any person to whom the information relates to be ascertained, or

in pursuance of any EU obligation.

The relevant proceedings referred to in subsection (1)(a) are—

any criminal proceedings,

civil proceedings arising under or by virtue of the Financial Services and Markets Act 2000 and proceedings before the Upper Tribunal in respect of—

a decision of the FCA;

a decision of the PRA;

a decision of the Bank of England; or

a decision of a person relating to the assessment of any compensation or consideration under the Banking (Special Provisions) Act 2008 , the Banking Act 2009 or Schedule 11 to the Financial Services and Markets Act 2023,

disciplinary proceedings relating to—

the exercise by a relevant lawyer, auditor, accountant, valuer or actuary of his professional duties, or

the discharge by a public servant of his duties.

proceedings before the Pensions Regulator Tribunala tribunal in relation to a decision of the Pensions Regulator.

In subsection (2)(c)(i) "relevant lawyer" means—

a person who, for the purposes of the Legal Services Act 2007, is an authorised person in relation to an activity which constitutes a reserved legal activity (within the meaning of that Act),

a solicitor or barrister in Northern Ireland, or

a solicitor or advocate in Scotland.

In subsection (2)(c)(ii) "public servant" means an officer or servant of the Crown or of any public or other authority for the time being designated for the purposes of that provision by order of the Secretary of State.

The Secretary of State may by order amend the Table in subsection (4) so as to—

add any public or other authority to the Table and specify the relevant functions of that authority,

remove any authority from the Table, or

add functions to, or remove functions from, those which are relevant functions in relation to an authority specified in the Table;

and the order may impose conditions subject to which, or otherwise restrict the circumstances in which, disclosure is permitted.

An order under this section shall be made by statutory instrument which shall be subject to annulment in pursuance of a resolution of either House of Parliament.

Section 87: Exceptions from restrictions on disclosure.

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