National Pensions Reserve Fund Act, 2000

Prohibition of unauthorised disclosure of confidential information.

13.—(1) Save as otherwise provided by law, a person shall not disclose confidential information obtained by him or her while performing duties as a commissioner or member of the staff of the Manager or a member of a committee or an investment manager or a custodian or a consultant or an adviser engaged by the Commission, unless he or she is duly authorised by the Commission to do so.

(2) 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 £1,500 or to imprisonment for a term not exceeding 6 months or to both, or

(b) on conviction on indictment to a fine or to imprisonment for a term not exceeding 2 years or to both.

(3) Nothing in subsection (1) shall prevent disclosure of information—

(a) to the Commission, the Manager or the Minister, or

(b) obtained in the course of the performance of functions under this Act to the Revenue Commissioners or the Garda Síochána where there are reasonable grounds to suspect malpractice, fraud, tax evasion or other irregularity, or prevent appropriate use of such information by the person concerned in performance of functions under this Act or any other enactment.

(4) In this section “confidential information” includes—

(a) information that is expressed by the Commission to be confidential either as regards particular information or as regards information of a particular class or description, and

(b) proposals of a commercial nature or tenders submitted to the Commission by contractors, consultants or any other person.