175Determination that disclosure of specified information is not prohibited

175 Determination that disclosure of specified information is not prohibited

Determinations relating to specified persons

(1) For the purposes of paragraph 174(4)(d), the Reserve Bank may, in writing, make a determination covering a disclosure of information that:

(a) is made by a specified person who is covered by subsection 174(3) in relation to specified information or information that is in a specified class of information; and

(b) is of the specified information, the information that is in the specified class of information, or a specified part of such information.

(2) The Reserve Bank must give a copy of the determination, as soon as practicable after making it, to:

(a) the body corporate to which the determination made under subsection 172(1) relates; and

(b) the person specified, or each person specified, in the determination.

Determinations relating to specified classes of persons

(3) For the purposes of paragraph 174(4)(d), the Reserve Bank may, in writing, make a determination covering a disclosure of information that:

(a) is made by a person in a specified class of persons covered by subsection 174(3) in relation to specified information or information that is in a specified class of information; and

(b) is of the specified information, the information that is in the specified class of information, or a specified part of such information.

(4) The Reserve Bank must, as soon as practicable after making the determination under subsection (3):

(a) give a copy of the determination to the body corporate to which the determination made under subsection 172(1) relates; and

(b) take reasonable steps to discover who is in the class of persons specified in the determination; and

(c) if it is practicable to do so—give a copy of the determination to each person who the Reserve Bank believes to be in that class.

Conditions in determinations

(5) The Reserve Bank may include conditions in a determination made under subsection (1) or (3) that relate to any of the following:

(a) the kind of entities to which the disclosure may be made;

(b) the way in which the disclosure is to be made;

(c) any other matter that the Reserve Bank considers appropriate.

Determination not a legislative instrument

(6) A determination made under subsection (1) or (3) is not a legislative instrument.