§ 25 After Clause 29, insert the following new clause:
§ ("Regulation of financial services etc.
§ .—(1) Personal data held for the purpose of discharging statutory functions to which this section applies are exempt from the subject access provisions in any case in which the application of those provisions to the data would be likely to prejudice the proper discharge of those functions.
§ (2) This section applies to any functions designated for the purposes of this section by an order made by the Secretary of State, being functions conferred by or under any enactment appearing to him to be designed for protecting members of the public against financial loss due to dishonesty, incompetence or malpractice by persons concerned in the provision of banking, insurance, investment or other financial services or in the management of companies or to the conduct of discharged or undischarged bankrupts.").
§ Lord EltonMy Lords, I beg to move that this House doth agree with the Commons in their Amendment No. 25 to Clause 29. At the same time it may be helpful if I speak to Amendment No. 45 to Clause 38.