By virtue of paragraph(s) 3, 5 of Part 1 of Schedule 12A of the Local Government Act 1972.
Information relating to the financial or business affairs of any particular person (including the authority holding that information).
Information in respect of which a claim to legal professional privilege could be maintained in legal proceedings.
Condition:
Information is not exempt information if it relates to proposed development for which the local planning authority may grant itself planning permission pursuant to regulation 3 of the Town and Country Planning General Regulations 1992
Information which-(a)falls within any of paragraphs 1 to 7 above; and (b)is not prevented from being exempt by virtue of paragraph 8 or 9 above, is exempt information if and so long, as in all the circumstances of the case, the public interest in maintaining the exemption outweighs the public interest in disclosing the information
It is not in the public interest to disclose the information because it could prejudice commercial negotiations, and will allow Counicllors to fully consider legl advice which may otherwise prejudice negotiations.