Citation and commencement

1. —(1) This Order may be cited as the Data Protection (Corporate Finance Exemption) Order 2000 and shall come into force on 1st March 2000.

(2) In this Order, “the Act” means the Data Protection Act 1998.

Matters to be taken into account

2. —(1) The matter set out in paragraph (2) below is hereby specified for the purposes of paragraph 6(1)(b) of Schedule 7 to the Act (matters to be taken into account in determining whether exemption from the subject information provisions is required for the purpose of safeguarding an important economic or financial interest of the United Kingdom).

(2) The matter referred to in paragraph (1) above is the inevitable prejudicial effect on–

(a) the orderly functioning of financial markets, or

(b) the efficient allocation of capital within the economy,

which will result from the application (whether on an occasional or regular basis) of the subject information provisions to data to which paragraph (3) below applies.

(3) This paragraph applies to any personal data to which the application of the subject information provisions could, in the reasonable belief of the relevant person within the meaning of paragraph 6 of Schedule 7 to the Act, affect–

(a) any decision of any person whether or not to–

(i) deal in,

(ii) subscribe for, or

(iii) issue, any instrument which is already in existence or is to be, or may be, created; or

(b) any decision of any person to act or not to act in a way that is likely to have an effect on any business activity including, in particular, an effect on–

(i) the industrial strategy of any person (whether the strategy is, or is to be, pursued independently or in association with others),

(ii) the capital structure of an undertaking, or

(iii) the legal or beneficial ownership of a business or asset.