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23.—(1) A person shall not under regulation 22 above be required to disclose any information or produce any document which he would be entitled to refuse to disclose or produce on grounds of legal professional privilege in proceedings in the High Court or on grounds of confidentiality as between client and professional legal adviser in proceedings in the Court of Session except that a lawyer may be required to furnish the name and address of his client.
(2) Nothing in regulation 22 above requires a person (except as mentioned in paragraph (3) below) to disclose any information or produce any document in respect of which he owes an obligation of confidence by virtue of carrying on the business of banking unless—
(a)the person to whom the obligation of confidence is owed consents to the disclosure or production; or
(b)the making of the requirement was authorised by the relevant authority.
(3) Paragraph (2) above does not apply where the person owing the obligation of confidence or to whom it is owed is—
(a)an investment company with variable capital, director or depositary under investigation by virtue of paragraph (1) of regulation 22 above; or
(b)an investment company with variable capital, or any other person, under investigation by virtue of paragraph (2) of that regulation.
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