Central Bank Act, 1989.
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Disclosure of information. |
16.—(1) A person, who at the commencement of this section is, or at any time thereafter is appointed, Governor or a Director, officer or servant of the Bank or who is employed by the Bank in any other capacity, shall not disclose, during his term of office or employment or at any time thereafter, any information concerning— | |
(a) the business of any person or body (whether corporate or unincorporate) which came to his knowledge by virtue of his office or employment, or | ||
(b) the Bank's activities in respect of the protection of the integrity of the currency or the control of credit, | ||
unless such disclosure is to enable the Bank to carry out its functions under the Central Bank Acts, 1942 to 1989, or under any enactment amending those Acts. | ||
(2) The provisions as to non-disclosure contained in subsection (1) shall not apply to any disclosure— | ||
(a) required by a court in connection with any criminal proceedings, | ||
(b) made with the consent of the person to whom the information relates and, where not the same person, of the person from whom that information was obtained, | ||
(c) where the Bank is acting or has acted in the capacity of an agent for a person, made to the person in respect of that capacity, | ||
(d) where the Bank considers it necessary for the common good, made to any person charged by law with the supervision of financial institutions (whether or not entitled to take money on deposit from the public) and who, in the opinion of the Bank, has obligations concerning that person duly imposed in respect of non-disclosure of information and corresponding to obligations under this section, | ||
(e) made to an authority in a foreign jurisdiction duly authorised to exercise functions in that jurisdiction which correspond to the functions of the Bank under this Part and Part II of the Act of 1971 and which, in the opinion of the Bank, has obligations concerning the authority duly imposed in respect of non-disclosure of information and corresponding to obligations under this section, | ||
(f) made to any institution of the European Communities for the purpose of the State's membership of any of those Communities, | ||
(g) made for the purpose of complying with any requirement, under the Central Bank Acts, 1942 to 1989, or any other enactment, that a report, statement or other document be laid before a House of the Oireachtas, | ||
and the provisions as to non-disclosure contained in paragraphs (a) and (b) of subsection (1) shall not apply to any disclosure— | ||
(i) in the case of the said paragraph (a), which, in the opinion of the Bank, is necessary for the protection of depositors of money with any person carrying on the business of banking or any business to which section 7 (4) (a) (ii) of the Act of 1971 (as amended by this Act) or regulations under section 26 relate or to safeguard the interests of the Bank, | ||
(ii) in the case of the said paragraph (b), made with the consent of the Bank or where the disclosure is not prejudicial to— | ||
(I) the operations of the Bank in any financial market, or | ||
(II) the issue by the Bank of legal tender, or | ||
(III) the integrity of the currency. | ||
(3) After the commencement of this section, every person who is appointed Governor or a Director, officer or servant of the Bank, or who is employed by the Bank in any other capacity, shall— | ||
(a) before entering into the office or employment, be informed by the Bank of his obligations under this section, and | ||
(b) acknowledge that he has been so informed and understands his obligations, | ||
in such manner as the Bank shall determine. | ||
(4) A person who contravenes subsection (1) shall be guilty of an offence and shall be liable— | ||
(a) on summary conviction to a fine not exceeding £1,000 or, at the discretion of the court, to imprisonment for a term not exceeding 12 months, or to both, or | ||
(b) on conviction on indictment to a fine not exceeding £25,000 or, at the discretion of the court, to imprisonment for a term not exceeding five years, or to both. | ||
(5) In any proceedings for an offence under this section, it shall not be necessary to prove that the provisions of subsection (2) do not apply and the onus of proving that any of those provisions do apply shall be on the person seeking to avail himself thereof. |