Companies Act 2014 section 1554

Confidentiality of information

Section 1554 establishes a strict duty of confidentiality for persons who obtain non-public information while carrying out functions under the relevant statutory audit provisions, and creates a criminal offence for unauthorised disclosure.

• Information obtained while performing functions under the relevant provisions of the Companies Act must be kept confidential.
• The duty of confidentiality applies only to information that has not already come to the attention of the public.
• Disclosure is permitted only where it is authorised by law.
• A breach of this confidentiality obligation is a category 3 offence under the Companies Act.