(1) In this section "foreign competition body" means a person in whom there are vested functions under the law of another state with respect to the enforcement or the administration of provisions of that state's law concerning competition between undertakings (whether in a particular sector of that state's economy or throughout that economy generally).
(2) The Authority may, with the consent of the Minister, enter into arrangements with a foreign competition body whereby each party to the arrangements may -
(a) furnish to the other party information in its possession if the information is required by that other party for the purpose of performance by it of any of its functions, and
(b) provide such other assistance to the other party as will facilitate the performance by that other party of any of its functions.
(3) The Authority shall not furnish any information to a foreign competition body pursuant to such arrangements unless it requires of, and obtains from, that body