(1) a supervisory authority may disclose to a relevant authority information it holds relevant to its supervisory functions, provided the disclosure is made for purposes connected with the effective exercise of -
(a) the functions of the relevant authority under these Regulations or any other functions related to money laundering, terrorist financing or the integrity of the international financial system;
(b) the functions of the law enforcement authority; or
(c) in the case of an overseas authority, the functions provided for in the fourth money laundering directive, or equivalent functions.
(1A) A relevant authority referred to in paragraph (5)(b), (c), (e) or (f) may disclose to a supervisory authority or another relevant authority referred to in paragraph (5) information it holds, provided the disclosure is made for purposes connected with -
(a) the effective exercise of the functions of the supervisory authority or other relevant authority under these Regulations; or
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