Section 172 — Authority may transmit information from inspection to corresponding authority

(1)The Authority or any person authorised by the Authority may, on the Authority’s own motion, and subject to the satisfaction of such conditions as the Authority may determine, transmit any information obtained by the Authority from an inspection under section 169(1) to a corresponding authority as defined in section 17(1) of a foreign country that exercises consolidated supervision authority (whether or not for compliance with any AML/CFT requirement as defined in section 17(1)) over the relevant person to which the inspection relates.

(2)Subsection (1) applies despite the provisions of any prescribed written law as defined in section 17(1) or any requirement imposed under any such written law, any rule of law, any contract or any rule of professional conduct, and does not affect section 25 or any other written law or rule of law authorising the Authority, or a person authorised by the Authority, to disclose information in the Authority’s or the person’s possession to another person.