Document ID: chunk:federal_register_of_legislation:C2025C00182:section:127:p1
Version: federal_register_of_legislation:C2025C00182
Segment Type: section
Provision Reference: s 127 (pt 1/7)
Character Range: 468726–471638

127  Confidentiality
 (1) ASIC must take all reasonable measures to protect from unauthorised use or disclosure information:
 (a) given to it in confidence in or in connection with the performance of its functions or the exercise of its powers under the corporations legislation (other than the excluded provisions); or
 (b) that is protected information.
Note: Information given to ASIC under Part 7.5A of the Corporations Act may be taken, for the purpose of this section, to be given in confidence in connection with the performance of ASIC's functions under that Act: see subsections 903A(5) and (6), and 906A(3) and (4), of the Corporations Act.
 (1A) Disclosing summaries of information or statistics derived from information is authorised use and disclosure of the information provided that information relating to any particular person cannot be found out from those summaries or statistics.
 (2) For the purposes of subsection (1), the disclosure of information as required or permitted by a law of the Commonwealth or a prescribed law of a State or Territory is taken to be authorised use and disclosure of the information.
 (2A) Disclosing information to one of the following is authorised use and disclosure of the information:
 (a) the Minister;
 (b) the Secretary of the Department for the purpose of advising the Minister, or an officer authorised for that purpose;
 (ba) the Financial Regulator Assessment Authority;
 (c) APRA;
 (ca) a Financial Services and Credit Panel;
 (cb) the Tax Practitioners Board;
 (d) the Reserve Bank of Australia;
 (daa) a statutory manager of a body corporate;
 (da) the Australian Competition and Consumer Commission;
 (e) the Clean Energy Regulator;
 (f) the Climate Change Authority;
 (g) the Commissioner of Taxation;
 (h) a Registrar appointed under any of the following:
 (i) section 6 of the Commonwealth Registers Act 2020;
 (ii) section 1270 of the Corporations Act 2001;
 (iii) section 212A of the National Consumer Credit Protection Act 2009;
 (iv) section 62A of the Business Names Registration Act 2011.
 (2B) Disclosing information to a Royal Commission (within the meaning of the Royal Commissions Act 1902) is authorised use and disclosure of the information.
 (2C) The Chairperson may impose conditions to be complied with in relation to information disclosed under subsection (2B).
 (2D) If the Chairperson is satisfied that:
 (a) information is obtained by ASIC in circumstances described in subsection (2E); and
 (b) the information is:
 (i) about how an audit of a company, registered scheme, registrable superannuation entity or disclosing entity was conducted by an Australian auditor; or
 (ii) about the company's, scheme's or entity's compliance with the requirements in Chapter 2M of the Corporations Act to prepare financial statements and reports, or with the continuous disclosure requirements of sections 674, 674A, 675 and 675A of the