§ 126 — Access to information by valuer

126.—(1) A Division 11 FI under resolution for which a valuer is appointed must —(a)

give the valuer access to such of its records and documents as the valuer may reasonably require to conduct the valuation;

(b)

procure a person who is in possession of such records and documents to give the valuer access to them;

(c)

provide such information and facilities as the valuer may reasonably require to conduct the valuation; and

(d)

procure a person who is in possession of such information or facilities to provide the information or facilities to the valuer.

(2) Subsection (1) has effect despite any obligation of confidentiality or other restrictions on the disclosure of information imposed on the Division 11 FI under resolution or any of its officers, or on any person mentioned in subsection (1)(b) or (d), by any prescribed written law or any requirement imposed under any such written law, any rule of law, any contract or any rule of professional conduct.

(3) A Division 11 FI under resolution that, without reasonable excuse, refuses or neglects to comply with subsection (1) shall be guilty of an offence and shall be liable on conviction to a fine not exceeding $250,000 and, in the case of a continuing offence, to a further fine not exceeding $25,000 for every day or part of a day during which the offence continues after conviction.

(4) No civil or criminal liability is incurred by a Division 11 FI under resolution or any of its officers, or by any person mentioned in subsection (1)(b) or (d) or any of the person’s officers, in respect of any obligation or restriction mentioned in subsection (2), for doing or omitting to do any act, if the act is done or omitted to be done with reasonable care and in good faith and for the purpose of complying with or giving effect to subsection (1).

(5) A Division 11 FI under resolution or any of its officers, or any person mentioned in subsection (1)(b) or (d), that, with reasonable care and in good faith, does or omits to do any act for the purpose of complying with or giving effect to subsection (1) is not to be treated as being in breach of any obligation or restriction mentioned in subsection (2).

—(1) A Division 11 FI under resolution for which a valuer is appointed must —(a)

give the valuer access to such of its records and documents as the valuer may reasonably require to conduct the valuation;

(b)

procure a person who is in possession of such records and documents to give the valuer access to them;

(c)

provide such information and facilities as the valuer may reasonably require to conduct the valuation; and

(d)

procure a person who is in possession of such information or facilities to provide the information or facilities to the valuer.

(2) Subsection (1) has effect despite any obligation of confidentiality or other restrictions on the disclosure of information imposed on the Division 11 FI under resolution or any of its officers, or on any person mentioned in subsection (1)(b) or (d), by any prescribed written law or any requirement imposed under any such written law, any rule of law, any contract or any rule of professional conduct.

(3) A Division 11 FI under resolution that, without reasonable excuse, refuses or neglects to comply with subsection (1) shall be guilty of an offence and shall be liable on conviction to a fine not exceeding $250,000 and, in the case of a continuing offence, to a further fine not exceeding $25,000 for every day or part of a day during which the offence continues after conviction.

(4) No civil or criminal liability is incurred by a Division 11 FI under resolution or any of its officers, or by any person mentioned in subsection (1)(b) or (d) or any of the person’s officers, in respect of any obligation or restriction mentioned in subsection (2), for doing or omitting to do any act, if the act is done or omitted to be done with reasonable care and in good faith and for the purpose of complying with or giving effect to subsection (1).

(5) A Division 11 FI under resolution or any of its officers, or any person mentioned in subsection (1)(b) or (d), that, with reasonable care and in good faith, does or omits to do any act for the purpose of complying with or giving effect to subsection (1) is not to be treated as being in breach of any obligation or restriction mentioned in subsection (2).