50Existence and operation of monitoring order not to be disclosed

#### 50 Existence and operation of monitoring order not to be disclosed 50 Existence and operation of monitoring order not to be disclosed > > (1) A financial institution that is, or has been, subject to a monitoring order is guilty of an offence if it discloses the existence or the operation of the order to any person (including the person to whom the order relates) except— > > > > > (a) the Commission or the person authorised by the Commission and named in the order, or > > > > > (b) an officer or agent of the institution, for the purpose of ensuring that the order is complied with, or > > > > > (c) an Australian legal practitioner, for the purpose of obtaining legal advice or representation in relation to the order. > > > > Maximum penalty—1,000 penalty units. > > > (2) A person described in subsection (1) (a), (b) or (c) to whom the existence or operation of a monitoring order has been disclosed (whether in accordance with subsection (1) or a previous application of this subsection or otherwise) is guilty of an offence if he or she— > > > > > (a) while still a person so described—discloses the existence or operation of the order, otherwise than to another person described in subsection (1) (a), (b) or (c) for the purpose of— > > > > > > > (i) if the disclosure is made by a person described in subsection (1) (a) or (b)—the performance of that person’s duties, or > > > > > > > (ii) if the disclosure is made by an officer or agent of the institution—ensuring that the order is complied with or obtaining legal advice or representation in relation to the order, or > > > > > > > (iii) if the disclosure is made by an Australian legal practitioner—giving legal advice, or making representations, in relation to the order, or > > > > > (b) while no longer a person so described—makes a record of, or discloses, the existence or operation of the order in any circumstances. > > > > Maximum penalty—100 penalty units or imprisonment for 2 years, or both. > > > (3) Nothing in subsection (2) prevents the disclosure by a person described in subsection (1) (a) of the existence or operation of a monitoring order— > > > > > (a) for the purposes of, or in connection with, legal proceedings, or > > > > > (b) in the course of proceedings before a court. > > > (4) A person described in subsection (1) (a) is not to be required to disclose to any court the existence or operation of a monitoring order. > > > (5) A reference in this section to disclosing the existence or operation of a monitoring order to a person includes a reference to disclosing to the person information from which the person could reasonably be expected to infer the existence or operation of the monitoring order. > > **s 50:** Am 2005 No 98, Sch 3.20 \[3\].