19Disclosure of information

19 Disclosure of information

(1) A person who is or has been a member or acting member of the Board or a member of the staff assisting the Board shall not, directly or indirectly, except for the purposes of this Act or as otherwise authorized or required by law, make a record of, or divulge or communicate to any person, any prescribed information acquired by him by reason of, or in the course of, the performance of his duties and functions under this Act. (2) Nothing in subsection (1) precludes a person from divulging or communicating information: (a) to the Commissioner of Taxation; or (b) to the Administrative Appeals Tribunal in connection with proceedings under an Act of which the Commissioner has the general administration. (3) Section 38 of the Freedom of Information Act 1982 does not apply in relation to a document containing prescribed information. (4) In this section:

prescribed information means:

(a) information supplied to the Board in confidence; or
(b) any other information the disclosure of which may, or may reasonably be expected to, affect a business entity or a natural person adversely in respect of the lawful business, commercial or financial affairs of the business entity or person.