Singapore legislation

Clause 34

of Accounting and Corporate Regulatory Authority Bill

Clause 34

Preservation of secrecy

(1)

No 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,shall disclose any information relating to the affairs of the Authority or of any other person which has been obtained by him in the performance of his duties or the exercise of his functions unless such disclosure is made —

(i)

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;

(ii)

for the purpose of the administration or enforcement of this Act or any written law specified in the Second Schedule; (iii)in compliance with the requirement of any court or the provisions of any written law; or

(iv)

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.

(2)

No 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,shall, for his 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 him in the performance of his duties or the exercise of his functions.

(3)

For the purpose of this section, the reference to a person disclosing or making use of any information includes his permitting any other person to have any access to any record, document or other thing which is in his possession or under his control by virtue of his 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.