Singapore legislation

Section 42

of Accounting and Corporate Regulatory Authority Act 2004

Section 42

Preservation of secrecy

Amended by18/20145/2018

(1)

A person who is or has been —

(a)

a member, an officer, an employee or an agent of the Authority; or

(b)

a member of a committee of the Authority,must not disclose any information relating to the affairs of the Authority or of any other person which has been obtained by the firstmentioned person in the performance of that person’s duties or the exercise of that person’s functions unless such disclosure is made —

(c)

with the permission of the person from whom the information was obtained or, where the information is the confidential information of a third person, with the permission of that third person;

(d)

for the purpose of the administration or enforcement of this Act or any written law specified in the Second Schedule;

(e)

in compliance with the requirement of any court or as required or allowed by the provisions of any written law;

(f)

with the prior authorisation from the Authority to do so;

(g)

for the purpose of assisting any public officer or officer of any other statutory board in the investigation or prosecution of any offence under any written law;

(h)

for the purpose of assisting a public officer, or an officer of another statutory board, who is responsible for administering or enforcing any written law, to administer or enforce that written law;

(i)

in connection with any civil proceedings to which the Authority is a party; or

(j)

with a view to the institution, or otherwise for the purposes, of any disciplinary proceedings or investigation in connection therewith under any written law.

Amended by18/20145/2018

(2)

A person who is or has been —

(a)

a member, an officer, an employee or an agent of the Authority; or

(b)

a member of a committee of the Authority,must not, for the person’s own personal benefit or for the personal benefit of any other person, make use of any information, whether directly or indirectly, which has been obtained by that firstmentioned person in the performance of that person’s duties or the exercise of that person’s functions.

(3)

For the purpose of this section, the reference to the person disclosing or making use of any information includes the person permitting any other person to have any access to any record, document or other thing which is in the firstmentioned person’s possession or under that person’s control by virtue of that person being or having been a member, an officer, an employee or an agent of the Authority or a member of a committee of the Authority.

(4)

Any person who contravenes subsection (1) or (2) shall be guilty of an offence and shall be liable on conviction to a fine not exceeding $10,000 or to imprisonment for a term not exceeding 12 months or to both.

(5)

The provisions of this section are in addition to, and not in derogation of, any provision in any written law specified in the Second Schedule that regulates or restricts the disclosure of information by any member, officer, employee, agent or member of a committee of the Authority.[34