537Secrecy

537 Secrecy

(1) A person who is, or at any time was, engaged in the administration of this Law or a former Act must not, other than as provided by this section, record, make use of or divulge information obtained in the course of the administration.

(2) Subsection (1) does not apply to:

(a) the recording, making use of or divulging of information in the course of the administration of this Law; or

(b) the recording or making use of information for the purpose of divulging it as permitted by subsection (3) or (4); or

(c) the divulging of information as permitted by subsection (3) or (4).

(3) Information may be divulged:

(a) for the purposes of criminal proceedings; or

(b) for the purposes of proceedings under this Law or a corresponding co-operatives law or of an inquiry authorised by legislation of this jurisdiction or of another jurisdiction; or

(c) with the consent of the person to whom the information relates; or

(d) under a requirement imposed under legislation of this jurisdiction or of another jurisdiction; or

(e) under a reciprocal arrangement under sections 616 and 617.

(4) Information may be divulged to:

(a) the Minister; or

(b) the Registrar or a participating Registrar; or

(c) a person specified in the Co-operatives National Law Act of this jurisdiction (subject to any conditions or limitations specified in that Act) for the purposes of this paragraph; or

Note. This paragraph is intended to cover the Treasurer, Auditor-General, Independent Commission Against Corruption, etc.

(d) the person who, under a law of this jurisdiction or another jurisdiction, administers a law of the jurisdiction that relates to taxation or the imposition of a duty; or

(e) the Commissioner of Taxation, a Second Commissioner of Taxation or a Deputy Commissioner of Taxation holding office under a law of the Commonwealth; or

(f) ASIC; or

(g) a person nominated by a person referred to in paragraphs (a)–(f); or

(h) a person seeking information under a reciprocal arrangement under section 616 or 617; or

(i) a police officer exercising functions as a police officer; or

(j) a person, to whom the Registrar considers it is in the public interest that the information be divulged.

(5) For the purposes of this section, a person is, or was, engaged in the administration of this Law or a former Act if the person exercises, or at any time exercised, a function as:

(a) the Registrar holding office under this Law or a former Act; or