Data Protection (Regulation of Financial Services etc.)(Subject Access Exemption) (Amendment) Order 1992

JurisdictionUK Non-devolved
CitationSI 1992 Draft
Year1992

1992No. **

DATA PROTECTION

Data Protection (Regulation of Financial Services etc.)

(Subject Access Exemption) (Amendment) Order 1992

1992

1992

Whereas a draft of this Order has been laid before and approved by a resolution of each House of Parliament:

Now, therefore, in exercise of the powers conferred upon me by section 30(2) of the Data Protection Act 1984 ( a) and section 190 of the Financial Services Act 1986 ( b) and after consultation with the Data Protection Registrar in accordance with section 40(3) of the Act of 1984, I hereby make the following Order:

1. This Order may be cited as the Data Protection (Regulation of Financial Services etc.) (Subject Access Exemption) (Amendment) Order 1992 and shall come into force on the day after the day on which it is made.

2. After paragraph 3 of Schedule 2 to the Data Protection (Regulation of Financial Services etc.) (Subject Access Exemption) Order 1987 ( c) there shall be added the following paragraph:

"4. Functions of the Operator, within the meaning of regulation 2(1) of the Uncertificated Securities Regulations 1992 ( d), in connection with the admission of persons as participants in the system, within the meaning of the said regulation 2(1), the termination of participation, the imposition of restrictions, and the replacement and supervision of participants."

Home Office

1992

One of Her Majesty's Principal Secretaries of State

(a) 1984 c.35.

(b) 1986 c.60. Section 190 was extended by regulation 114 of the Uncertificated Securities Regulations 1992(S.I. 1992/225).

(c) S.I. 1987/1905, to which there are amendments not relevant to the subject matter of this Order.

(d) S.I. 1992/225.

EXPLANATORY NOTE

(This note is not part of the Order)

Section 30 of the Data Protection Act 1984 ("the 1984 Act") provides that personal data held for the purpose of discharging statutory functions which are designated by the Secretary of State by an order made under that section shall be exempt from the subject access provisions of the Act in any case in which the application of those provisions to the data would be likely to prejudice the proper discharge of those functions. The functions that may be designated are those conferred by or under any enactment appearing to the Secretary of State 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...

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