§ 65D — Section 65B notice applies despite duty of secrecy under Banking Act 1970 or Trust Companies Act 2005

65D.—(1) This section applies where —(a)

the Comptroller requires any information for the administration of this Act, other than for an investigation or a prosecution for an offence alleged or suspected to have been committed under this Act;

(b)

the information is protected from unauthorised disclosure under either of the following laws (called in this section the relevant laws):(i)

section 47 of the Banking Act 1970 including that section as applied by section 55ZI(1) of that Act;

(ii)

section 49 of the Trust Companies Act 2005; and

(c)

a person is given a notice, or is required, under section 65B to provide the information or to produce a document containing the information.[34/2016; 1/2020]

(2) Despite anything in section 65B(2)(a), a person issued with a notice or requirement mentioned in subsection (1)(c) is not excused from providing the information or document by reason only that the person is under a statutory obligation to observe secrecy under a relevant law, and that notice has effect despite the relevant law.[34/2016]

(3) A person who in good faith complies with a notice or requirement mentioned in subsection (1)(c) is not treated as being in breach of the relevant law.[34/2016]

(4) No action for a breach of the relevant law shall lie against the person mentioned in subsection (3) —(a)

for producing any document or providing any information if the person had done so in good faith in compliance with a notice or requirement mentioned in subsection (1)(c); or

(b)

for doing or omitting to do any act if the person had done or omitted to do the act in good faith and as a result of complying with such a notice or requirement.[34/2016]

(5) In this section, a notice under section 65B to provide information includes a demand for information as defined in section 65C(10).[34/2016]

—(1) This section applies where —(a)

the Comptroller requires any information for the administration of this Act, other than for an investigation or a prosecution for an offence alleged or suspected to have been committed under this Act;

(b)

the information is protected from unauthorised disclosure under either of the following laws (called in this section the relevant laws):(i)

section 47 of the Banking Act 1970 including that section as applied by section 55ZI(1) of that Act;

(ii)

section 49 of the Trust Companies Act 2005; and

(c)

a person is given a notice, or is required, under section 65B to provide the information or to produce a document containing the information.[34/2016; 1/2020]

(2) Despite anything in section 65B(2)(a), a person issued with a notice or requirement mentioned in subsection (1)(c) is not excused from providing the information or document by reason only that the person is under a statutory obligation to observe secrecy under a relevant law, and that notice has effect despite the relevant law.[34/2016]

(3) A person who in good faith complies with a notice or requirement mentioned in subsection (1)(c) is not treated as being in breach of the relevant law.[34/2016]

(4) No action for a breach of the relevant law shall lie against the person mentioned in subsection (3) —(a)

for producing any document or providing any information if the person had done so in good faith in compliance with a notice or requirement mentioned in subsection (1)(c); or

(b)

for doing or omitting to do any act if the person had done or omitted to do the act in good faith and as a result of complying with such a notice or requirement.[34/2016]

(5) In this section, a notice under section 65B to provide information includes a demand for information as defined in section 65C(10).[34/2016]