Corporations Act 2001

CHAPTER 7 - FINANCIAL SERVICES AND MARKETS  

Note: This Chapter applies to a CCIV in a modified form: see Division 4 of Part 8B.7 .

PART 7.3B - CRISIS RESOLUTION FOR CS FACILITY LICENSEES  

Division 9 - Other matters  

Subdivision A - Secrecy determinations  

SECTION 848E   DISCLOSURE ALLOWED BY THE RESERVE BANK  

848E(1)    
A person covered by subsection 848C(2) in relation to information may disclose the information if:

(a)    a determination made under subsection (2) or (4) of this section allows the disclosure by the person; and

(b)    if the Reserve Bank has included conditions in the determination - those conditions are satisfied.

Determinations relating to specified persons

848E(2)    
The Reserve Bank may, in writing, make a determination allowing:

(a)    a specified person covered by subsection 848C(2) in relation to specified information; or

(b)    a specified person covered by subsection 848C(2) in relation to information that is in a specified class of information;

to disclose the specified information, the information that is in the specified class of information, or a specified part of such information.

848E(3)    
The Reserve Bank must give a copy of the determination, as soon as practicable after making it, to:

(a)    the body corporate to which the determination made under subsection 848A(1) relates; and

(b)    the person specified, or each person specified, in the determination.

Determinations relating to specified classes of persons

848E(4)    
The Reserve Bank may, in writing, make a determination allowing:

(a)    a specified class of persons covered by subsection 848C(2) in relation to specified information; or

(b)    a specified class of persons covered by subsection 848C(2) in relation to information that is in a specified class of information;

to disclose the specified information, the information that is in the specified class of information, or a specified part of such information.

848E(5)    
The Reserve Bank must, as soon as practicable after making the determination under subsection (4) :

(a)    give a copy of the determination to the body corporate to which the determination made under subsection 848A(1) relates; and

(b)    take reasonable steps to discover who is in the class of persons specified in the determination; and

(c)    if it is practicable to do so - give a copy of the determination to each person who the Reserve Bank believes to be in that class.

Conditions in determinations

848E(6)    
The Reserve Bank may include conditions in a determination made under subsection (2) or (4) that relate to any of the following:

(a)    the kind of entities to which the disclosure may be made;

(b)    the way in which the disclosure is to be made;

(c)    any other matter that the Reserve Bank considers appropriate.

Determination not a legislative instrument

848E(7)    
A determination made under subsection (2) or (4) is not a legislative instrument.