Document ID: chunk:federal_register_of_legislation:C2025C00182:section:127:p4
Version: federal_register_of_legislation:C2025C00182
Segment Type: section
Provision Reference: s 127 (pt 4/7)
Character Range: 476386–479182

to perform its functions or exercise its powers; or
 (d) will enable or assist:
 (i) a prescribed professional disciplinary body to perform one of its functions; or
 (ii) another prescribed body to perform a prescribed function in relation to registered liquidators; or
 (e) will enable or assist a committee convened under Part 2 of Schedule 2 to the Corporations Act to perform its functions under the corporations legislation;
the disclosure of the information to the agency, government, officer, body or committee by a person whom the Chairperson authorises for the purpose is taken to be authorised use and disclosure of the information.
 (4A) The Chairperson may impose conditions to be complied with in relation to information disclosed under subsection (4).
 (4B) The disclosure of information to a body corporate specified in regulations under subsection (4C) (including a body corporate that is a foreign company) is authorised use and disclosure of the information if:
 (a) the Chairperson is satisfied that the information will enable or assist the body corporate to monitor compliance with, enforce, or perform functions or exercise powers under:
 (i) the Corporations Act; or
 (iaa) the business law of a State that is not in this jurisdiction; or
 (ia) a foreign business law; or
 (ii) the operating rules of the body corporate; and
 (b) the disclosure is by a person authorised by the Chairperson for the purpose.
 (4C) The regulations may specify a body corporate for the purposes of subsection (4B) if, and only if, the body corporate:
 (a) conducts, or is involved in the supervision of, a financial market; or
 (b) is a body corporate that holds an Australian CS facility licence; or
 (c) is a body corporate that holds an Australian derivative trade repository licence or that operates a prescribed derivative trade repository.
 (4D) The Chairperson may impose conditions to be complied with by a body corporate and its officers, employees and agents in relation to information disclosed to the body corporate under subsection (4B).
 (4E) A person must not intentionally or recklessly fail to comply with a condition imposed under subsection (4D).
Penalty: 2 years imprisonment.
 (4EA) If ASIC discloses information to a disciplinary body under subparagraph (4)(d)(i), the body or a member of the body:
 (a) must not disclose the information to any other person; and
 (b) must not use the information for any purpose other than for deciding whether or not to take disciplinary or other action or for taking that action.
Penalty: 2 years imprisonment.
 (4EB) If ASIC discloses information to a prescribed body under subparagraph (4)(d)(ii), the body or a member of the body:
 (a) must not disclose the information to any other person; and
 (b) must not use the information for