Section 449: Provision for security of information obtained., Companies Act 1985

This section applies to information (in whatever form) obtained—

in pursuance of a requirement imposed under section 447;

by means of a relevant disclosure within the meaning of section 448A(2);

by an investigator in consequence of the exercise of his powers under section 453A.

Such information must not be disclosed unless the disclosure—

is made to a person specified in Schedule 15C, or

is of a description specified in Schedule 15D.

The Secretary of State may by order amend Schedules 15C and 15D.

An order under subsection (3) must not—

amend Schedule 15C by specifying a person unless the person exercises functions of a public nature (whether or not he exercises any other function);

amend Schedule 15D by adding or modifying a description of disclosure unless the purpose for which the disclosure is permitted is likely to facilitate the exercise of a function of a public nature.

An order under subsection (3) must be made by statutory instrument subject to annulment in pursuance of a resolution of either House of Parliament.

A person who discloses any information in contravention of this section is guilty of an offence.

A person guilty of an offence under this section is liable—

on conviction on indictment, to imprisonment for a term not exceeding two years or a fine (or both);

on summary conviction—

in England and Wales, to imprisonment for a term not exceeding twelve months or to a fine not exceeding the statutory maximum (or both);

in Scotland or Northern Ireland, to imprisonment for a term not exceeding six months, or to a fine not exceeding the statutory maximum (or both).

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Any information which may by virtue of this section be disclosed to a person specified in Schedule 15C may be disclosed to any officer or employee of the person.

This section does not prohibit the disclosure of information if the information is or has been available to the public from any other source.

For the purposes of this section, information obtained by an investigator in consequence of the exercise of his powers under section 453A includes information obtained by a person accompanying the investigator in pursuance of subsection (4) of that section in consequence of that person's accompanying the investigator.

Nothing in this section authorises the making of a disclosure in contravention of the data protection legislation.

Section 449: Provision for security of information obtained.

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