Corporations Act 2001
Note: See section 600K .
PART 2 - REGISTERING AND DISCIPLINING PRACTITIONERS Division 50 - Committees under this Part SECTION 50-35 COMMITTEE MUST ONLY USE INFORMATION ETC. FOR PURPOSES FOR WHICH DISCLOSEDOffence
50-35(1)
A person commits an offence if:
(a) the person is or was a member of a committee convened under this Part; and
(b) information or a document is or was disclosed to the person for the purposes of exercising powers or performing functions as a member of the committee; and
(c) the person uses or discloses the information or document.
Penalty: 50 penalty units.
Exception - information or document disclosed to the Inspector-General in Bankruptcy or another committee etc.
50-35(2)
Subsection (1) does not apply if the information or document:
(a) is used or disclosed by the person for the purposes of exercising powers or performing functions as a member of the committee mentioned in subsection (1); or
(b) is disclosed:
(i) to the Inspector-General in Bankruptcy to assist the Inspector-General to exercise his or her powers or perform his or her functions under the Bankruptcy Act 1966 ; or
(ii) to a committee convened under Part 2 of the Insolvency Practice Schedule (Bankruptcy) to assist the committee to exercise its powers or perform its functions under that Part; or
(iii) to another committee convened under this Part to assist the committee to exercise its powers or perform its functions under this Part; or
(iv) to enable or assist a body prescribed for the purposes of this paragraph to perform its disciplinary function in relation to its members; or
(v) in order to enable or assist an authority or person in a State or Territory, or a foreign country, to perform or exercise a function or power that corresponds, or is analogous, to any of the committee ' s or ASIC ' s functions and powers; or
(vi) to a court or tribunal in relation to proceedings before the court or tribunal.
Note: A defendant bears an evidential burden in relation to the matter in subsection (2) (see subsection 13.3(3) of the Criminal Code ).
[ CCH Note: CL 50-35(2) will be amended by No 69 of 2020, s 3, Sch 1[1339], by substituting " , ASIC ' s or the Registrar ' s " for " or ASIC ' s " in para (b)(v) (effective 1 July 2026 or a day or days to be fixed by Proclamation).]
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