(1) Subject to paragraphs (2) and (3), nothing in these Regulations shall prevent the Bank from communicating the information referred to in Regulations 95, 96 and 97 to a clearing house or other similar body recognised in the State for the provision of clearing or settlement services in a market in a Member State if the Bank considers that it is necessary to communicate the information in order to ensure the proper functioning of those bodies in relation to defaults or potential defaults by market participants.
(2) Information received under this Regulation shall be subject to the conditions of professional secrecy imposed by Regulation 95.
(3) Information received under Regulation 96(1) shall not be disclosed in the circumstances referred to in this Regulation without the express consent of the competent authorities which disclosed it.