71Communication of information by financial institutions to prescribed authorities

#### 71 Communication of information by financial institutions to prescribed authorities 71 Communication of information by financial institutions to prescribed authorities > > (1) If a financial institution has information about an account held with the institution and the institution has reasonable grounds for believing that— > > > > > (a) the information may be relevant to an investigation of, or the prosecution of a person for, a serious offence, or > > > > > (b) the information would otherwise be of assistance in the enforcement of this Act or the regulations, > > > > the institution may give the information to a prescribed authority. > > > (2) An action, suit or proceeding does not lie against— > > > > > (a) a financial institution, or > > > > > (b) an officer, employee or agent of the institution acting in the course of the person’s employment or agency, > > > > in relation to any action taken by that institution or person pursuant to subsection (1).