(1) This section applies to information (in whatever form)—
(a) relating to the private affairs of an individual, or
(b) relating to any particular business,
that is provided to the Panel in connection with the exercise of its functions.
(2) No such information may, during the lifetime of the individual or so long as the business continues to be carried on, be disclosed without the consent of that individual or (as the case may be) the person for the time being carrying on that business.
(3) Subsection (2) does not apply to any disclosure of information that—
(a) is made for the purpose of facilitating the carrying out by the Panel of any of its functions,
(b) is made to a person specified in Part 1 of Schedule 2,
(c) is of a description specified in Part 2 of that Schedule, or
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