Moved by
Lord Callanan
31: After Clause 22, insert the following new Clause—
“Disclosure of information about trusts
(1) This section applies to information delivered to the registrar by virtue of section 4(2A), 7(2A) or (2B) or 9(2A) or (2B) (required information about trusts).
(2) The registrar may not disclose the information unless—
(a) the same information is made available by the registrar for public inspection otherwise than by virtue of being delivered to the registrar by virtue of a provision mentioned in subsection (1), or
(b) the disclosure is permitted by subsection (3).
(3) The registrar may disclose the information to—
(a) the Commissioners for Her Majesty’s Revenue and Customs, or
(b) any other person who—
(i) has functions of a public nature, and
(ii) is specified for the purposes of this section by regulations made by the Secretary of State.
(4) Regulations under this section are subject to the negative resolution procedure.”
Member’s explanatory statement
This new clause generally prevents the registrar from disclosing the required information about trusts. But it also includes a new power to disclose information to HMRC or other specified persons with public functions.