SCHEDULES

SCHEDULE 12Amendments of Parts 11 and 23 of FSMA 2000

PART 2Part 23 of FSMA 2000: public record, disclosure of information and co-operation

I120

1

Section 350 (disclosure of information by HMRC) is amended as follows.

2

For subsection (1) substitute—

1

No obligation as to secrecy imposed by statute or otherwise prevents the disclosure of Revenue information to—

a

the FCA or the PRA, if the disclosure is made for the purpose of assisting or enabling that regulator to discharge its functions under this or any other Act, or

b

the Secretary of State, if the disclosure is made for the purpose of assisting in the investigation of a matter under section 168 or with a view to the appointment of an investigator under that section.

3

In subsection (4), for “subsection (1)” substitute “ subsection (1)(b) ”.