Part 2: Terrorist property Disclosures of information Section 36: Sharing of information within the regulated sector
Section 36 inserts, after section 21C of TACT, new sections 21CA–21CF, which make provision for the voluntary sharing of information between relevant undertakings in the regulated sector in connection with suspicions of terrorist financing or the identification of terrorist property or its movement or use.
	Section 21CA allows a person (A) in a regulated sector business to disclose information, which came to them in the course of their business, with another person in a regulated sector business (in response to a request from them or the police), where (A) is satisfied that disclosing the information may assist in determining any matter in connection with a suspicion that a person in involved in the commission of a terrorist financing offence or identifying terrorist property. The person making the request must notify a constable that a request is to be made, unless a constable has requested the disclosure.
	Section 21CB specifies the information to be provided in a disclosure request or the notification to a constable.
	Section 21CC specifies the effect of section 21CA on required disclosures under section 21A of TACT, in particular that the making of a required notification under section 21CA in good faith or the making of a joint disclosure report in good faith is to be treated as satisfying the requirement to make a required disclosure. Section 21CC also sets out the information to be provided as part of the joint disclosure report, and the timeframe for information sharing to take place before a joint disclosure report must be provided. Where the request is made by a constable, the applicable period will be specified by a constable. Where the request is made by the regulated sector business, the applicable period is 28 days, however a constable may vary the period of 28 days by giving written notice to the person who made the required notification.
	Section 21CD provides certain limitations on the application of section 21CC, in particular the fact that the provisions in 21CC do not remove the requirement to make a required disclosure under section 21A of TACT on matters which are wider than the disclosure request.
	Section 21CE provides that a relevant disclosure (one made in compliance with section 21CA) made in good faith does not breach an obligation of confidence or any other restrictions on the disclosure of information (however imposed). This section also clarifies that a relevant disclosure may not include information obtained from a UK law enforcement agency (as defined within the section) unless that agency consents to the disclosure. See also consequential amendments to section 21G (tipping off: other permitted disclosures) of TACT and to the Data Protection Act 1998 which are contained within paragraphs 6 to 10 of Schedule 5.
	Section 21CF provides interpretation of terms used within this section.