Document ID: chunk:federal_register_of_legislation:C2025C00182:section:127:p5
Version: federal_register_of_legislation:C2025C00182
Segment Type: section
Provision Reference: s 127 (pt 5/7)
Character Range: 478938–481717

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 any purpose other than the performance of the prescribed functions in relation to registered liquidators.
Penalty: 2 years imprisonment.
 (4F) If information is disclosed to a body corporate under subsection (4B), the body corporate, or an officer, employee or agent of the body corporate, must not intentionally or recklessly:
 (a) disclose the information to a person who is not an officer, employee or agent of the body corporate; or
 (b) use the information.
Penalty: 2 years imprisonment.
 (4FA) Subsection (4F) does not apply to the extent that:
 (a) the person has the written consent of the Chairperson; or
 (b) the information is used for the purpose of monitoring compliance with, enforcing, or performing functions or exercising powers under:
 (i) the Corporations Act; or
 (ii) the business law of a State that is not in this jurisdiction; or
 (iii) a foreign business law; or
 (iv) the operating rules (if any), of the body corporate.
Note: A defendant bears an evidential burden in relation to the matters in this subsection, see subsection 13.3(3) of the Criminal Code.
 (5) The Chairperson may delegate all or any of his or her functions and powers under subsection (2C), (4), (4A), (4B), (4D) or (4FA) to a member or staff member.
 (5A) Regulations made for the purpose of this section may specify uses of information and disclosures of information that are authorised uses and authorised disclosures for the purposes of this section.
 (6) Nothing in any of subsections (1A), (2), (2A), (2B), (2C), (3), (4), (4B) and (5) limits:
 (a) anything else in any of those subsections; or
 (b) what may otherwise constitute, for the purposes of subsection (1), authorised use or disclosure of information.
 (7) A person (the officer) commits an offence if:
 (a) the officer is or has been:
 (i) a member of ASIC; or
 (ii) a staff member; or
 (iii) a Commonwealth officer within the meaning of the Crimes Act 1914; and
 (b) the officer intentionally or recklessly, and directly or indirectly:
 (i) discloses information to any person or to a court; or
 (ii) produces a document to any person or to a court; and
 (c) if subparagraph (b)(i) applies—the information is protected information disclosed to, or obtained by, ASIC for the purposes of a function (a FAR‑related function) conferred on ASIC by:
 (i) the Financial Accountability Regime Act 2023; or
 (ii) the Financial Accountability Regime (Consequential Amendments) Act 2023; and
 (d) if subparagraph (b)(ii) applies—the document:
 (i) is protected information and was