Statutory Instrument 1988 No. 1058

The Financial Services (Disclosure of Information) (Designated Authorities) (No. 4) Order 1988

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© Crown Copyright 1988

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1988 No. 1058

FINANCIAL SERVICES

The Financial Services (Disclosure of Information) (Designated Authorities) (No. 4) Order 1988

The Secretary of State, in exercise of the powers conferred by section 180(3) and (4) of the Financial Services Act 1986^[1] and section 449(1B) and (1C) of the Companies Act 1985^[2] , hereby makes the following Order:

Citation and commencement
    1.    This Order may be cited as the Financial Services (Disclosure of Information) (Designated Authorities) (No. 4) Order 1988 and shall come into force on the day after it is laid before Parliament.

Designation of authorities and specification of functions
    2.    For the purposes of section 180 of the Financial Services Act 1986 and section 449 of the Companies Act 1985 the person appointed by the Secretary of State to investigate and report on the discharge of regulatory functions under the Prevention of Fraud (Investments) Act 1958^[3] in relation to Barlow Clowes & Partners (a partnership), Barlow Clowes Gilt Managers Limited (formerly Barlow Clowes & Partners Ltd) and, if appropriate, Barlow Clowes International Limited is designated as an authority in relation to the functions of that person in his capacity as such.

Francis Maude

Parliamentary Under Secretary of State Department of Trade and Industry

16th June 1988

This Order designates the person appointed by the Secretary of State to investigate and report on the discharge of certain regulatory functions as an authority for the purposes of section 180 of the Financial Services Act 1986 and section 449 of the Companies Act 1985 in relation to the functions of that person in his capacity as such. The effect of designation is to permit the disclosure of information which would otherwise be restricted if disclosure is for the purposes of enabling or assisting the designated authority to discharge the specified functions.

[1] 1986 c. 60. back

[2] 1985 c. 6; subsections (1B) and (1C) of section 449 of the Companies Act 1985 were inserted by paragraph 9 of Schedule 13 to the Financial Services Act 1986. back

[3] 1958 c. 45. back