Section 80E | Code of practice ^F1

(1)The Secretary of State must issue a code of practice about the exercise of the Secretary of State’s functions under Schedule 3ZA and Schedule 3ZB.

(2)The code of practice must include provision about—

(a)the giving of notices to banks requiring the provision of information under Schedule 3ZA;

(b)the processing (within the meaning of section 3(4) of the Data Protection Act 2018) of information received in response;

(c)the circumstances in which penalties may be issued to banks;

(d)the circumstances in which the Secretary of State expects to exercise functions under Schedule 3ZB.

(3)Before issuing the code of practice for the first time, the Secretary of State must carry out a public consultation on a draft of the code.

(4)The requirement in subsection (3) may be satisfied by public consultation carried out before this section comes into force.

(5)The Secretary of State may from time to time revise and re-issue the code of practice.

(6)The Secretary of State must lay the code of practice, or any reissued code of practice, before Parliament.