- Statutory Instrument 2003 No. 1092
The Financial Services and Markets Act 2000 (Disclosure of Confidential Information) (Amendment) Regulations 2003
© Crown Copyright 2003
Statutory Instruments printed from this website are printed under the superintendence and authority of the Controller of HMSO being the Queen's Printer of Acts of Parliament.
The legislation contained on this web site is subject to Crown Copyright protection. It may be reproduced free of charge provided that it is reproduced accurately and that the source and copyright status of the material is made evident to users.
It should be noted that the right to reproduce the text of Statutory Instruments does not extend to the Queen's Printer imprints which should be removed from any copies of the Statutory Instrument which are issued or made available to the public. This includes reproduction of the Statutory Instrument on the Internet and on intranet sites. The Royal Arms may be reproduced only where they are an integral part of the original document.
The text of this Internet version of the Statutory Instrument which is published by the Queen's Printer of Acts of Parliament has been prepared to reflect the text as it was Made. A print version is also available and is published by The Stationery Office Limited as the The Financial Services and Markets Act 2000 (Disclosure of Confidential Information) (Amendment) Regulations 2003, ISBN 0110465377. The print version may be purchased by clicking here. Braille copies of this Statutory Instrument can also be purchased at the same price as the print edition by contacting TSO Customer Services on 0870 600 5522 or e-mail: customer.services@tso.co.uk.
Further information about the publication of legislation on this website can be found by referring to the Frequently Asked Questions.
To ensure fast access over slow connections, large documents have been segmented into "chunks". Where you see a "continue" button at the bottom of the page of text, this indicates that there is another chunk of text available.
| Made | 10th April 2003 | ||
| Laid before Parliament | 11th April 2003 | ||
| Coming into force | 2nd May 2003 |
The Treasury, in exercise of the powers conferred on them by sections 349(1)(b) and (2) and 417(1)[1] of the Financial Services and Markets Act 2000[2], hereby make the following Regulations:
Citation and commencement
1. These Regulations may be cited as the Financial Services and Markets Act 2000 (Disclosure of Confidential Information) (Amendment) Regulations 2003, and come into force on 2nd May 2003.
Interpretation
2. In these Regulations:
-
"the Act" means the Financial Services and Markets Act 2000;
-
"the 2001 Regulations" means the Financial Services and Markets Act 2000 (Disclosure of Confidential Information) Regulations 2001[3].
Amendment of the 2001 Regulations
3.
The 2001 regulations are amended by:
-
(a) inserting, after regulation 4(b) -
-
"
(ba) for the purposes of any proceedings under Part 2, 3 or 4 of the Proceeds of Crime Act 2002[4] which have been, or may be initiated;";
(b) adding the following entry at the end of the table in Part 1 of Schedule 1 -
| A person upon whom functions are conferred by or under Part 2, 3 or 4 of the Proceeds of Crime Act 2002 | Those functions |
(c) inserting, after regulation 12A -
-
"
12B.
A primary recipient of information to which this Part applies, or a person obtaining such information directly or indirectly from a primary recipient is permitted to disclose such information to any person for the purposes of any proceedings under the Proceeds of Crime Act 2002 which have been or may be initiated.".
-
(d) adding the following entry at the end of the table in Schedule 2 -
| A person upon whom functions are conferred by or under the Proceeds of Crime Act 2002 | Those functions |
Jim Fitzpatrick
Philip Woolas
Two of the Lords Commissioners ofHer Majesty's Treasury
9th April 2003
(This note is not part of the Regulations)
These Regulations amend the Financial Services and Markets Act 2000 (Disclosure of Confidential Information) Regulations 2001 (S.I. 2001/2188) ("the principal regulations") to allow for the disclosure of certain information by primary recipients as defined in section 348(5) of the Financial Services and Markets Act 2000 ("FSMA")) and persons obtaining such information directly or indirectly from such recipients (hereafter collectively referred to as "primary recipients"), for the purposes of certain proceedings under the Proceeds of Crime Act 2002 ("POCA") and to persons performing certain functions under that Act.
The principal regulations define the circumstances in which primary recipients are permitted to disclose "confidential information" as defined in section 348(2) of FSMA. The amendments introduced by these Regulations permit those recipients to disclose such information for the puropses of confiscation proceedings under Part 2, 3 or 4 of POCA. Further, they permit confidential information which is "single market directive information" for the purposes of the principal regulations to be disclosed by primary recipients to persons upon whom functions are conferred by or under Part 2, 3 or 4 of POCA, for the purpose of enabling or assisting those persons to perform those functions. In relation to information which is not "single market directive information", the amendments introduced by these Regulations permit disclosure by primary recipients for the purposes of any proceedings under POCA which have, or may be initiated. Finally, the amendments also permit such information to be disclosed by primary recipients to persons upon whom any functions are conferred by or under POCA, for the purpose of enabling or assisting those persons to perform those functions.
Notes:
[1] See the definition of "prescribed".back
[3] S.I. 2001/2188, as amended by S.I. 2001/3437 and S.I. 2001/3624.back
ISBN 0 11 046537 7