(1) A competent authority may refuse to comply with a request referred to in Regulation 96(1) if, in its opinion -
(a) there are reasonable grounds for believing that supplying the information concerned might adversely affect -
(i) public order,
(ii) the security of the State,
(iii) the defence of the State, or
(iv) the international relations of the State,
or
(b) proceedings in any court in the State have already been initiated in respect of the same actions and against the same statutory auditor or audit firm, the subject of the request; or
(c) a final determination has already been made by the competent authority in respect of the same actions and the same statutory auditor or audit firm, the subject of the request.
(2) If the competent authority referred to in paragraph (1) is not the competent authority with supervisory and other functions, it shall not exercise the power thereunder to refuse to comply with a request save after consultation with that competent authority.