605.This section concerns the duties and powers of auditors and actuaries of authorised persons to pass on information of regulatory importance to the Authority.
606.Auditors and actuaries of authorised persons will be members of professional bodies and will therefore be subject to rules made by their respective bodies as to how they treat confidential information.  Subsections (3) and (4) ensure that auditors or actuaries who, in good faith, pass on information or express their opinion to the Authority will not be in breach of any duty of confidentiality to which they might otherwise be subject.  This protection applies whether or not the auditor or actuary acts in response to a request from the Authority.
607.Subsections (5), (6) and (7) give the Treasury a power to set out the circumstances in which auditors and actuaries must pass on information to the Authority.  This information may relate to the affairs of either the authorised person concerned, or other persons.  So far as auditors are concerned, the Treasury are required by EC directives to set out the circumstances in which such reports must be made, and it is intended to use this power to re-enact the rules necessary to comply with this requirement.
Commentary on Sections Part Xxii: Auditors and Actuaries Section 342: Information given by auditor or actuary to the Authority