Central Bank (Individual Accountability Framework) Act 2023

Power to order information about proceedings not to be disclosed

59. The Act of 1942 is amended by the insertion of the following section after section 33AZ:

“33AZA. (1) Subject to subsections (2) and (3), where the person presiding at an inquiry is satisfied that there are reasonable grounds for doing so, that person may direct that specified information relating to specified proceedings before the inquiry, so far as it is held in public, shall not be disclosed.

(2) A direction under subsection (1) does not prohibit the disclosure of information in such form as to prevent particulars relating to the identity of the following persons from being ascertained from the information:

(a) a person to whom the inquiry relates;

(b) in the case of an inquiry held under section 33AO(2) or section 33AR(4)(b), the regulated financial service provider concerned;

(c) a person taking part in the specified proceedings;

(d) any other specified person.

(3) In subsections (1) and (2), ‘specified’, in relation to a direction under subsection (1), means specified in the direction.

(4) Nothing in this section or a direction under subsection (1) shall be construed as prohibiting the disclosure of any information pursuant to a court order.

(5) A person who contravenes a direction under subsection (1) shall be guilty of an offence and shall be liable on summary conviction to a class A fine or imprisonment for a term not exceeding 6 months or both.”.