Section 34
(1}
Notwithstanding section 33 but subject to subsection (4) of this section, the Authority may disclose information on the operation of a mutual fund to a designated supervisory authority for the purpose of its material supervisory functions.
(2)
In subsection (1), the reference to a designated supervisory authority is a reference to that authority which, in a country or territory designated by the
Minister for the purposes of this Order, exercises in that country or territory functions corresponding to those of the Authority under this Order and, in relation to such an authority, "material supervisory functions" means functions which so correspond.
(3)
The Minister shall not designate any country or territory for the purposes of this Order unless he is satisfied that the supervisory authority there is subject to equivalent or analogous provisions as to reciprocity in cases where information is required by the Authority from the designated supervisory authority and to provisions as to confidentiality which are at least equivalent to those which apply to the Authority, whether under this Order or otherwise.
(4)
In no circumstances shall the Authority provide any information under this section relating to the affairs of
{a}
any particular holder or former holder of a licence under this Order;
or
{b)
any person to whom a permission has been given under this Order, whether that permission is current or not.
Recognised authorisations.
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