International Banking Order, 2000 · As enacted
24. Confidentiality of information received under this Order, etc.
Official textFrom Attorney General's Chambers, unchanged
( 1)
This section applies to information which -
{a) the Authority or a person who works or has worked for the
the Authority
"the Authority" means such person or body as is appointed by His Majesty the Sultan and Yang Di-Pertuan to be the Authority for the purposes of this Order;
Authority; or
an auditor or expert instructed by the Authority, has received in the course of discharging functions under this Order or otherwise pursuant to instructions from the Authority.
Information to which this section applies shall not be disclosed either by any person referred to in subsection (1) or by any person receiving it directly or indirectly from such a person except -
{a) with the consent of the person or, as the case may be, every person to who it relates;
{b)
where it is information that is a matter of public record or know ledge; or
{c)
in accordance with the following provisions of this section.
Information to which this section applies may be disclosed in the following circumstances -
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{a)
where the disclosure is to any person concerned with the administration of this Order or for the purpose of carrying this
Order into effect;
{b)
where the disclosure is to any person qualified in law, accountancy or valuation or any other matter requiring the exercise of professional skill, in order to take advice from that qualified person for the purposes of this Order;
{c)
where the disclosure is with a view to the institution of, or otherwise for the purposes of, criminal proceedings, whether under this Order or otherwise;
institution
"institution" means a company incorporated or registered under the Companies Act, an international business company or a foreign international company;
{d) where the disclosure is in relation to any other proceedings arising out of this Order or any winding-up or administration proceedings in respect of a licensee or former licensee; or
licensee
"licensee" means a bank which is for the time being the holder of a licence;
where the disclosure is in the form of a summary of information in such a manner as not to enable information relating to any particular licensee or other person to be ascertained from it.
!4)
The Authority may provide information on the operations of a licensee which is incorporated in a country or territory outside Brunei Darussalam
!including any report under section 15!1)(b}) to a designated supervisory authority in the country of incorporation for the purpose of its material supervisory functions.
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Subsection 22!3) applies in relation to this section as it applies to that.
!6)
Any person who discloses information contrary to the provisions of this section shall be guilty of an offence and liable on conviction to a fme and to imprisonment for a term not exceeding five years.
Terms defined in s 2
institution
Defined · s 2"institution" means a company incorporated or registered under the Companies Act, an international business company or a foreign international company;
licensee
Defined · s 2"licensee" means a bank which is for the time being the holder of a licence;
the Authority
Defined · s 2"the Authority" means such person or body as is appointed by His Majesty the Sultan and Yang Di-Pertuan to be the Authority for the purposes of this Order;