Part 1: Registration of Overseas Entities Sharing of information by HMRC Section 40: Sharing of information by HMRC
This section permits HMRC to disclose information under certain conditions to allow the registrar and Secretary of State to take action in connection with offences under Part 1. This includes when investigating whether an offence has been committed, when prosecuting an offence, or when imposing financial penalties (subsection 2).
	Subsection (3) states a person who receives such information may only (a) use or (b) disclose the information for the purposes of taking action in connection with an offence under Part 1.275 Subsection (4) makes it an offence to disclose information in contravention to subsection (3)(b) about a person whose identity is specified or can be deduced from the disclosure. Subsection (5) provides a defence if the person reasonably believed disclosure was lawful or the information had already been lawfully made available to the public.