§ 8.33 p.m.
§ Lord Mackay of Ardbrecknish rose to move, That the draft order laid before the House on 25th February be approved [14th Report from the Joint Committee].
§ The noble Lord said: My Lords, your Lordships will be aware that the Data Protection Act 1984 gives people a general right to know what information is held about them on computer. I am sure that we can all agree that this openness is very beneficial. There are though 1167 circumstances when it could be damaging, and possibly disastrous. I believe that we need to curb access to this data where it could aid unlawful behaviour. This is especially important when the interests of innocent people are put at risk. That need was recognised in the Data Protection Act. The Act includes, at Section 30, a power which allows the Secretary of State to exempt personal data from this general right of access if it is held for the purposes of discharging statutory functions.
§ Your Lordships will be aware that a number of regulators have been granted such an exemption to enable them to exercise their duties effectively. The draft order now before your Lordships' House seeks to include the new pensions regulator, called the Occupational Pensions Regulatory Authority but known for short as OPRA. OPRA was set up by the Pensions Act 1995. It has the prime responsibility for ensuring the security of the £500 billion worth of assets which back the rights of members of occupational pension schemes.
§ OPRA has been given substantial powers to help it carry out this task effectively. These include a power to fine individuals and organisations acting as trustees of schemes, as well as being able to prohibit unsuitable people from being trustees. So OPRA will acquire a great deal of sensitive information.
§ Your Lordships will recognise the use that "fraudsters" could make of a situation where OPRA was forced to allow anyone suspected of misusing assets to have full knowledge of the information held about them. This knowledge could be used to frustrate an investigation, either by the destruction of records or by suborning people.
§ The order now before your Lordships' House is designed to ensure that, from the outset, OPRA is able to protect information from premature and damaging subject access.
§ Your Lordships will wish to know that the Data Protection Registrar has been consulted about the terms of the order, as is required under Section 40 of the Act. She has pronounced herself satisfied with it.
§ I believe that this order is essential to enable OPRA to carry out its functions effectively. It forms a small but important part in the overall provisions designed to safeguard the pensions of millions of people. It will thus enable people to invest with confidence in funded pension provision for their retirement. That is something which I hope we can all support. I commend this order to the House. I beg to move.
§ Moved, That the draft order laid before the House on 25th February be approved [14th Report from the Joint Committee].—(Lord Mackay of Ardbrecknish.)
§ On Question, Motion agreed to.