Singapore legislation
Section 48
Section 48
Confidentiality of inspection and investigation reports
(1)
Where a written report or any part of the written report (called in this section the report) has been produced in respect of any licensed trust company in Singapore —
by the Authority upon an inspection under section 40 or an investigation under section 41; or
by a parent supervisory authority upon an inspection under section 47,the report must not be disclosed by the licensed trust company, or any officer or auditor of the licensed trust company, to any other person except in the circumstances provided under subsection (2).
(2)
Disclosure of the report mentioned in subsection (1) may be made —
by the licensed trust company in Singapore to any officer or auditor of that licensed trust company solely in connection with the performance of the duties of the officer or auditor (as the case may be) in that licensed trust company;
by any officer or auditor of the licensed trust company in Singapore to any other officer or auditor of that licensed trust company, solely in connection with the performance of their duties in that licensed trust company;
to the Authority if requested by the Authority, where the report has been produced by a parent supervisory authority; or
to any other person as the Authority may approve in writing.
(3)
In granting written approval for any disclosure under subsection (2)(d), the Authority may impose such conditions as it considers appropriate.
(4)
The obligation on an officer or auditor referred to in subsection (1) continues after the termination or cessation of the officer’s or auditor’s employment or appointment at the licensed trust company.
(5)
Any person who contravenes subsection (1) or any condition imposed by the Authority under subsection (3) shall be guilty of an offence and shall be liable on conviction —
in the case of an individual, to a fine not exceeding $75,000 or to imprisonment for a term not exceeding 3 years or to both; or
in any other case, to a fine not exceeding $150,000.
(6)
Any person who solicits or procures the disclosure to the person or to any other person of any report or any part of the report in contravention of subsection (1) shall be guilty of an offence.
(7)
If any person to whom any report or any part of the report is disclosed knows or has reasonable grounds for believing, at the time of the disclosure, that the report was disclosed to the person in contravention of that subsection, the person must report the disclosure to the Authority and take any one or more of the following actions, as appropriate, as soon as is practicable:
where the disclosure was made in any written form, to surrender or take all reasonable steps to surrender the report and all copies of the report to the Authority;
where the disclosure was made in an electronic form, to take all reasonable steps to ensure that all electronic copies of the report received by the person are deleted;
to take any other action that the Authority may direct.
(8)
Any person who contravenes subsection (7) shall be guilty of an offence.