Data Protection (Transfer in the Substantial Public Interest) Order, 2002 (Consolidated)

Summary

This is a Guernsey statutory instrument, not a Cayman Islands GFSC document (the regulator here is the Guernsey Financial Services Commission), made under the Data Protection (Bailiwick of Guernsey) Law, 2001. It defines the limited circumstances in which the Guernsey Financial Services Commission or the Channel Islands Stock Exchange (referred to as the International Stock Exchange Authority Limited following 2017 amendment) may transfer personal data outside the Bailiwick without necessarily complying with the eighth data protection principle, on the basis that the transfer is necessary for reasons of substantial public interest.

• Who it applies to: Only the Guernsey Financial Services Commission and the Stock Exchange, including their members, officers, servants and anyone acting on their behalf, defined together as a relevant person.
• Specified circumstance: A transfer is treated as necessary for substantial public interest where it takes the form of a disclosure permissible under any enactment and is made on condition that the recipient does not pass the personal data to a third party except with the consent of the relevant person making the transfer, with the consent of the data subject, or to comply with a court order of relevant jurisdiction.
• Effect: Where these conditions are met, the transferring body does not need to separately demonstrate that the destination country ensures an adequate level of data protection under the eighth data protection principle.

The Order came into force on 14th August, 2002 and has since been amended in 2010, 2015 and 2017, mainly to update references to States committees and to the name of the Stock Exchange. It does not impose ongoing filing, reporting or notification requirements on the wider financial services industry.

Key obligations

• Where relying on this Order to transfer personal data outside the Bailiwick, the relevant person (the Commission or the Stock Exchange) must ensure the transfer is made on condition that the recipient does not onward transfer the data to a third party except with the consent of the relevant person, the consent of the data subject, or pursuant to a court order of relevant jurisdiction.

Applies to

Guernsey Financial Services Commission, the Stock Exchange (International Stock Exchange Authority Limited / Channel Islands Stock Exchange)

Deadlines

• 14th August, 2002: Date the Order came into force.
• 1st March, 2010: Effective date of amendments to article 2(3)(a) references to States committees.
• 20th April, 2015: Effective date of prior substitution of words in the definition of the Stock Exchange.
• 26th April, 2017: Effective date of substitution of words in the definition of the Stock Exchange (International Stock Exchange Authority Limited).