(1) A person who has acquired knowledge in his or her capacity as secretary, officer, employee or agent of the State shall not disclose to any person or governmental authority the identity, assets, liabilities, transactions or other information in respect of a holder except—
(a) with the written authorisation of the holder or of his or her heirs or personal representatives; or
(b) for the purpose of the performance of his or her duties within the scope of his or her employment in conformity with the provisions of this Act or rules governing the operations of the Securities Exchange, the Securities Registry; or
(c) when lawfully required to make disclosure by any court of competent jurisdiction within or outside the State; or
(d) under the provisions of any laws of the State or agreement among the participating Governments.
(2) A person who contravenes the provisions of subsection (1) commits an offence and is liable on summary conviction to a fine not exceeding $15,000 or to imprisonment for a term not exceeding 2 years or both.
(Inserted by Act 30 of 2003)