Stock Exchange Act, 1995
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Amendment of section 16 of Central Bank Act, 1989. |
50.— Section 16 of the Central Bank Act, 1989 , is hereby amended by— | |
(a) the substitution in subsection (1) of “unless such disclosure is to enable the Bank to carry out its statutory functions” for “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” and the subsection as so amended is set out in the Table to this section; | ||
(b) the substitution for subsection (2) (e) of the following paragraph: | ||
“(e) made to an authority in a jurisdiction other than that of the State duly authorised to exercise functions similar to any one or more of the statutory functions of the Bank and which has obligations in respect of non-disclosure of information similar to the obligations imposed on the Bank under this section.”; | ||
(c) the insertion in subsection (2) of the following paragraphs: | ||
“(h) made to any approved stock exchange (within the meaning of the Stock Exchange Act, 1995) in respect of member firms of that stock exchange for the purpose of monitoring compliance by member firms with stock exchange rules or with conditions or requirements imposed by the Bank or both, or where the Bank considers it necessary to do so either for the proper and orderly regulation of stock exchanges and their member firms, or for the protection of investors, or both, | ||
(i) made to a financial futures and options exchange within the meaning of section 97 of this Act whose rules have been approved by the Bank under Chapter VIII of this Act for the purpose of monitoring compliance by the members of that exchange with the rules or with conditions or requirements imposed by the Bank, or both, or where the Bank considers it necessary to do so for the proper and orderly regulation of such futures and options exchanges and their members, | ||
(j) made to a Committee appointed under section 65 of the Stock Exchange Act, 1995, | ||
(k) made to an inspector appointed under section 57 of the Stock Exchange Act, 1995, | ||
(l) made to any body which is a competent authority for the purpose of Council Directive 93/22/EEC of 10 May, 1993(1) or Council Directive 93/6/EEC of 15 March, 1993(1),”; | ||
(d) the insertion of the following subsection: | ||
“(6) In this section, ‘statutory functions’ has the meaning assigned to it by section 3 of the Stock Exchange Act, 1995.”. | ||
TABLE | ||
(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 statutory functions. | ||