Like you I can find nothing in the current published guidance, and a specific search such as ("agent of the business" site:ico.org.uk) produces no direct hits. You could always ask the subject. Possibly it is something that has been suggested in correspondence he has had with ICO?
Nearest I can find is the stuff about views of third parties in the guidance on "Determining what is personal data".
Having said that it does not look like something ICO would (or should) have said directly as it does not seem to be derived from any sound principle - or if it is then it is a gross oversimplification. Is it personal data of the third party anyway? Where is the mention of confidentiality - which may apply?
Bottom line is that the suggestion from the subject is neither relevant nor helpful. I'm sure you well understand the law and the often difficult balancing act under s7(4) to (6). Its up to you to decide what is reasonable in all the circumstances and if subject disagrees he can apply under s42
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