Commentary on Sections Supplementary Section 59 - Information
267.This section sets out the terms on which the Regulator will be able to disclose and receive information in connection with the exercise of his functions or the functions of other bodies.
268.As many of the Regulator’s functions will require interaction with the registrar of companies, subsection (1) makes provision for regulations to require the registrar to provide information and documents to the Regulator.
269.Subsection (2) places a specific duty on the Accountant in Bankruptcy in Scotland to forward copies of notices of the appointment of a liquidator of a CIC to the Regulator, since in Scotland such notices are received by the Accountant in Bankruptcy and not the registrar of companies.
270.Subsection (3) amends section 31(2) of the Data Protection Act 1998. It creates exemptions from an individual's entitlement under that Act to obtain a copy of information held on him.  The exemptions apply to public bodies acting to protect CICs against misconduct or mismanagement in their administration or acting to protect or recover the property of CICs (subsection (3)(a)).  The exemptions will apply whether the misconduct or mismanagement is by a director or any other person (subsection (3)(b)).
271.The section also enables public authorities to pass information to the Regulator (subsection (4)).  Similarly, the Regulator can pass information obtained in exercising his functions to other public authorities (subsection (5)).  These disclosures of information are subject to the constraints set out in subsections (6) to (8).  The constraints include, in the case of disclosures to non-UK authorities (subsection (6)), the restrictions contained in section 243(6) of the Enterprise Act 2002, so that the Regulator, before disclosing information to an authority outside the United Kingdom, must consider:
	whether the reason for the request is sufficiently serious to justify disclosure;
	the existence of appropriate protection against self-incrimination in criminal proceedings in the requesting country;
	the existence of appropriate protection for the storage and disclosure of personal data in the requesting country; and
	the existence of any mutual assistance agreements covering the information concerned with the requesting country.
272.Subsection (8) allows a restriction to be placed on further disclosure and subsection (9) makes it an offence to disclose information in contravention of any such restriction, the penalty under subsection (10) being a fine up to level 3 on the standard scale (currently £1,000).