205.— (1) The Minister, the Governor and the F21[Central Bank] may, in accordance with applicable law, disclose to each other any information that any of them receives concerning a participating institution or any of its subsidiaries. The recipient shall treat any information disclosed pursuant to this section as confidential.

(2) Disclosure under subsection (1) is subject to the requirements of—

(a) the treaties governing the European Communities, and

(b) the ESCB Statute.

(3) In subsection (1) “information” includes information relating to a period before the participating institution concerned was designated under section 67 as a participating institution.

(4) The Governor and the F22[Central Bank] may use information disclosed to either of them under subsection (1) in the performance of their functions.