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Prohibition on unauthorised disclosure of information.
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32.— (1) A person shall not disclose confidential information obtained by him or her in his or her capacity as, or while performing duties as, a director or director of a subsidiary or member of the staff of, or an adviser or consultant to, the Company or a subsidiary unless he or she is duly authorised or required by law to do so.
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(2) A person who contravenes subsection (1) shall be guilty of an offence and shall be liable—
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(a) on summary conviction, to a fine not exceeding £1,200 or imprisonment for a term not exceeding 12 months or both, or
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(b) on conviction on indictment, to a fine not exceeding £10,000 or imprisonment for a term not exceeding 2 years or both.
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(3) In this section—
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“confidential” means that which is expressed by the Company or the subsidiary concerned, as the case may be, to be confidential either as regards particular information or as regards information of a particular class or description;
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“duly authorised” means authorised by the Company or, as appropriate, by the subsidiary concerned or by a person authorised in that behalf by the Company or, as appropriate, the subsidiary concerned.
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