Confidentiality of inspection and investigation reports
50.—(1) Subject to subsection (2), where the Authority has —
(a)
produced a written report —
(i)
upon an inspection under section 48 in respect of a licensed credit bureau; or
(ii)
in respect of any investigation under section 49; and
(b)
provided the report to the licensed credit bureau or the person under investigation (called in this section the bureau or person, as the case may be),
the bureau or person, or any of the bureau’s or person’s officers or auditors, must not disclose the report to any other person.
(2) The report mentioned in subsection (1) may be disclosed —
(a)
by the bureau or person to the bureau’s or person’s officer or auditor solely in connection with the performance of the duties of the officer or auditor in the bureau or person;
(b)
by any officer or auditor of the bureau or person to any other officer or auditor of the bureau or person, solely in connection with the performance of their duties in the bureau or person; or
(c)
to any other person that the Authority may approve in writing.
(3) In granting written approval for any disclosure under subsection (2)(c), the Authority may impose such conditions or restrictions as the Authority thinks fit on the bureau or person, any of the bureau’s or person’s officers or auditors, or the person to whom disclosure is approved, and the bureau or person, officer, auditor or the person to whom disclosure is approved must comply with the condition or restriction.
(4) The obligations of an officer or auditor mentioned in subsections (1) and (3) continue after the termination or cessation of the person’s employment with or appointment by the bureau or person.
(5) Any person that contravenes subsection (1) or (3) shall be guilty of an offence and shall be liable on conviction —
(a)
in the case of an individual, to a fine not exceeding $50,000 or to imprisonment for a term not exceeding 2 years or to both; or
(b)
in any other case, to a fine not exceeding $100,000.
(6) Any person to whom the report is disclosed and that knows or has reasonable grounds for believing, at the time of the disclosure, that the report was disclosed to the person in contravention of subsection (1) shall be guilty of an offence unless the person proves that —
(a)
the disclosure was made contrary to the person’s desire;
(b)
where the disclosure was made in any written form, the person has, as soon as practicable after receiving the report, surrendered or taken all reasonable steps to surrender the report and all copies of the report to the Authority; and
(c)
where the disclosure was made in an electronic form, the person has, as soon as practicable after receiving the report, taken all reasonable steps to ensure that all electronic copies of the report have been deleted and that the report and all copies of the report in other forms have been surrendered to the Authority.
(7) Any person convicted of an offence under subsection (6) shall be liable on conviction —
(a)
in the case of an individual, to a fine not exceeding $50,000 or to imprisonment for a term not exceeding 2 years or to both; or
(b)
in any other case, to a fine not exceeding $100,000.