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CORPORATIONS ACT 2001

SCHEDULE 2 - INSOLVENCY PRACTICE SCHEDULE (CORPORATIONS)    View history reference

Note: See section 600K.

PART 2 - REGISTERING AND DISCIPLINING PRACTITIONERS  

Division 50 - Committees under this Part  

CLAUSE 50-35  COMMITTEE MUST ONLY USE INFORMATION ETC. FOR PURPOSES FOR WHICH DISCLOSED  

Offence

50-35(1)  

A person commits an offence if:


(a) the person is or was a member of a committee convened under this Part; and


(b) information or a document is or was disclosed to the person for the purposes of exercising powers or performing functions as a member of the committee; and


(c) the person uses or discloses the information or document.

Penalty: 50 penalty units.

Exception - information or document disclosed to the Inspector-General in Bankruptcy or another committee etc.

50-35(2)  

Subsection (1) does not apply if the information or document:


(a) is used or disclosed by the person for the purposes of exercising powers or performing functions as a member of the committee mentioned in subsection (1); or


(b) is disclosed:


(i) to the Inspector-General in Bankruptcy to assist the Inspector-General to exercise his or her powers or perform his or her functions under the Bankruptcy Act 1966; or

(ii) to a committee convened under Part 2 of the Insolvency Practice Schedule (Bankruptcy) to assist the committee to exercise its powers or perform its functions under that Part; or

(iii) to another committee convened under this Part to assist the committee to exercise its powers or perform its functions under this Part; or

(iv) to enable or assist a body prescribed for the purposes of this paragraph to perform its disciplinary function in relation to its members; or

(v) in order to enable or assist an authority or person in a State or Territory, or a foreign country, to perform or exercise a function or power that corresponds, or is analogous, to any of the committee's or ASIC's functions and powers; or

(vi) to a court or tribunal in relation to proceedings before the court or tribunal.

Note: A defendant bears an evidential burden in relation to the matter in subsection (2) (see subsection 13.3(3) of the Criminal Code).


 



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