Commonwealth Numbered Acts

CORPORATIONS LEGISLATION AMENDMENT ACT 1991 No. 110 of 1991 - SECT 22

22. After section 127 of the Principal Act the following section is inserted
in Division 2 of Part 7: Secrecy

"127A. (1) Subject to this section, a person who was at any time:

   (a)  appointed for the purposes of a law specified in an application order;
        or

   (b)  engaged as a member of the staff of the NCSC; or

   (c)  authorised to perform or exercise any function or power of the NCSC or
        any function or power on behalf of the NCSC; must not, except to the
        extent necessary to perform his or her official duties, or to perform
        or exercise such a function or power, either directly or indirectly,
        make a record of, or disclose to any person, any information that is
        or was acquired by him or her because of having been so appointed,
        engaged or authorised, or make use of any such information, for any
        purpose other than the performance of his or her official duties or
        the performance or exercise of that function or power. Penalty: $5,000
        or imprisonment for one year, or both.

"(2) Nothing in subsection (1) precludes a person from:

   (a)  producing a document to a court in the course of criminal proceedings
        or in the course of any proceedings under the National Companies and 
        Securities Commission Act 1979 or under a prescribed law or national
        scheme law of this or any other jurisdiction; or

   (b)  disclosing to a court in the course of any proceedings referred to in
        paragraph (a) any matter or thing that came under his or her notice in
        the performance of official duties or in the performance of a function
        or the exercise of a power referred to in that subsection; or

   (c)  producing a document or disclosing information to a person to whom, in
        the opinion of the Commission, it is in the public interest that the
        document be produced or the information be disclosed; or

   (d)  producing a document or disclosing information that is required or
        permitted by any Act of this or any other jurisdiction to be produced
        or disclosed, as the case may be; or

   (e)  producing a document or disclosing information to the Commission.

"(3) The following table sets out prescribed laws of this and the other
jurisdictions for the purposes of paragraph (2) (a):
Acts of the Commonwealth       Companies Act 1981 Companies (Acquisition of
Shares) Act
1989 Futures Industry Act 1986
Securities Industry Act 1980
Acts of New South Wales        Companies Act 1961

Companies (Application of Laws) Act 1981
Companies (Acquisition of Shares) 
(Application of Laws) Act 1981 
Futures Industry (Application of Laws) Act  1986 
National Companies and Securities 
Commission (State Provisions) Act 1981 
Securities Industry Act 1975
Securities Industry (Application of Laws) Act 
1981  Acts of the Northern Territory Companies Act 1963
Companies (Acquisition of
Shares) (Application of Laws) Act 1986
Companies (Application of Laws) Act 1986
Futures Industry (Application of Laws) Act  1986 
National Companies and Securities Commission
(Northern Territory Provisions) Act 1986
Securities Industry (Application of Laws) Act
1986
Acts of Queensland             Companies Act 1961

Companies (Application of Laws) Act 1981
Companies (Acquisition of 
Shares) (Application of Laws) Act 1981 
Company Takeovers Act 1979
Futures Industry (Application of Laws) Act  1986 
National Companies and Securities 
Commission (State Provisions) Act 1981 
Securities Industry Act 1975
Securities Industry (Application of Laws) Act 
1981 
Acts of South Australia        Companies Act 1962-1982

Companies (Application of Laws) Act 1982
Companies (Acquisition of Shares) 
(Application of Laws) Act 1981 
Company Take-overs Act 1980
Futures Industry (Application of 
Laws) Act 1986 
National Companies and Securities 
Commission (State Provisions) Act 1981 
Securities Industry Act 1979-1980
Securities Industry (Application of Laws) 
Act 1981 
Acts of Tasmania               Companies Act 1962

Companies (Application of Laws) Act 1982
Companies (Acquisition of Shares) 
(Application of Laws) Act 1981 
Futures Industry (Application of 
Laws) Act 1987 
National Companies and Securities 
Commission (State Provisions) Act 1981 
Securities Industry (Application of 
Laws) Act 1981 
Acts of Victoria               Companies Act 1961

Companies (Application of Laws) Act 1981
Companies (Acquisition of Shares) 
(Application of Laws) Act 1981 
Futures Industry (Application of Laws) Act  1986 
National Companies and Securities 
Commission (State Provisions) Act 1981 
Securities Industry Act 1975
Securities Industry (Application of 
Laws) Act 1981 
Acts of Western Australia      Companies Act 1961

Companies (Application of Laws) Act 1981
Companies (Acquisition of Shares) 
(Application of Laws) Act 1981 
Company Take-overs Act 1979
Futures Industry (Application of Laws) Act  1986 
Securities Industry Act 1975
Securities Industry (Application of Laws) 
Act 1981 
Securities Industry (Release of Sureties) 
Act 1977 
Acts and Ordinances of the     Companies Ordinance 1962
Capital Territory