Section 848C — Corporations Act 2001: Prohibition on disclosing information covered by secrecy provision

Offence (1) A person must not disclose information if: (a) the information is covered by a determination made under subsection 848A(1); and (b) the person is, or has been, covered by subsection (2) of this section in relation to the information. Note: Failure to comply with this subsection is an offence: see subsection 1311(1). (2) A person is covered by this subsection in relation to the information if the person is: (a) the body corporate to which the determination made under subsection 848A(1) relates; or (b) at or after the time when the Reserve Bank gave the direction or information: (i) an officer; or (ii) an employee; or (iii) a contractor; or (iv) a statutory manager (other than the Reserve Bank); of the body corporate to which the determination relates; or (c) any other person who, because of their employment, or in the course of that employment, has acquired the information covered by the determination. Exception (3) Subsection (1) does not apply if: (a) the disclosure is authorised by section 848D, 848E, 848F, 848G, 848H, 848J or 848K; or (b) the disclosure is required by an order or direction of a court or tribunal. Note: A defendant bears an evidential burden in relation to a matter in this subsection: see subsection 13.3(3) of the Criminal Code. Civil penalty (4) A person contravenes this subsection if the person contravenes subsection (1). Note: This subsection is a civil penalty provision: see section 1317E.