Document ID: chunk:federal_register_of_legislation:C2025C00182:section:127:p6
Version: federal_register_of_legislation:C2025C00182
Segment Type: section
Provision Reference: s 127 (pt 6/7)
Character Range: 481431–484050

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 given or produced to ASIC for the purposes of a FAR‑related function; or
 (ii) contains protected information disclosed to, or obtained by, ASIC for the purposes of a FAR‑related function; and
 (e) the officer acquired the information, or has or had access to the document, as the case may be, in the course of the officer's duties as a member of ASIC, a staff member or a Commonwealth officer within the meaning of the Crimes Act 1914.
Penalty: Imprisonment for 2 years.
 (7A) Subsection (7) does not apply if the disclosure or production constitutes authorised disclosure of the protected information for the purposes of subsection (1).
Note: A defendant bears an evidential burden in relation to the matter in this subsection (see subsection 13.3(3) of the Criminal Code).
 (8) A document is an exempt document for the purposes of section 38 of the Freedom of Information Act 1982 if the document:
 (a) is protected information and was given or produced to ASIC; or
 (b) contains protected information disclosed to, or obtained by, ASIC;
for the purposes of a function conferred on ASIC by:
 (c) the Financial Accountability Regime Act 2023; or
 (d) the Financial Accountability Regime (Consequential Amendments) Act 2023.
 (9) In this section:
Income Tax Assessment Act means the Income Tax Assessment Act 1936 or the Income Tax Assessment Act 1997.
protected information means information disclosed or obtained, or a document given or produced, (whether before or after the commencement of this section), for the purposes of a function in section 12A and relating to the affairs of:
 (a) a body or person regulated by ASIC; or
 (b) a body corporate (including a body corporate that has ceased to exist) that has at any time been, or is, related (within the meaning of the Corporations Act) to a body regulated by ASIC; or
 (c) a person who has been, is, or proposes to be, a customer of a body or person regulated by ASIC;
other than information that has already been lawfully made available to the public from other sources.
registrable superannuation entity has the same meaning as in Chapter 2M of the Corporations Act 2001.
RSA Act means the Retirement Savings Accounts Act 1997.
SIS Act means the Superannuation Industry (Supervision) Act 1993.

Part 8—Finance and reporting requirements

Division 2—Reporting requirements