The Act of 2013 is amended by the insertion of the following Part after section 34:

"Part 3A Voluntary disclosure of privileged legal material

34A. Voluntary disclosure of privileged legal material

(1) In this section -

'disclosed material' means information produced, or to which access is given, under a disclosure agreement;

'disclosure agreement' has the meaning given by subsection (2);

'privileged legal material' means information which a person is entitled to refuse to produce on the grounds of legal professional privilege;

'specified person' means a person specified in a disclosure agreement as a person to whom disclosed material is to be produced or to whom access to disclosed material is to be given under the agreement.

(2) This section applies if, for the purposes of the performance by the Bank of its functions under financial services legislation, the Bank enters into an agreement (referred to in this section as a 'disclosure agreement') with a person entitled to waive legal professional privilege in respect of privileged legal material, under which the person agrees to produce or give access to the material, to the Bank and any specified person, for the purposes specified in the agreement.