Disclosure of information on levy
108.—(1)  This section applies to a notice given under section 104(3), (5) or (6) to a levy payer that is a similar financial institution or a participant of a market infrastructure or payment system operator.
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(2)  Subject to subsections (3) and (4), the levy payer, and any of its officers, must not disclose to any person —
(a)the amount of the levy specified in the notice; and
(b)any information which, if disclosed, would enable the amount of the levy to be identified or deduced.
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(3)  Despite subsection (2), the levy payer and any of its officers may disclose any information mentioned in subsection (4) to —
(a)any officer of the levy payer;
(b)where the levy payer is one that is established or incorporated in a foreign country or territory, its head office, parent corporation, parent supervisory authority, resolution authority, deposit insurance authority or policy owners’ protection scheme authority, as the case may be;
(c)where the levy payer is a financial institution that is a subsidiary of a foreign corporation, that corporation or the corporation’s parent supervisory authority, resolution authority, deposit insurance authority or policy owners’ protection scheme authority, as the case may be; or
(d)such other person or class of persons as the Authority may approve in writing.
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(4)  The information that may be disclosed under subsection (3) is such information that is necessary for the performance of the duties of the person or authority mentioned in subsection (3)(a), (b), (c) or (d), as the case may be.
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(5)  A person to whom information is disclosed under subsection (3) must not disclose the information to any other person except as approved by the Authority.
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(6)  Any person who contravenes subsection (2) or (5) shall be guilty of an offence and shall be liable on conviction to a fine not exceeding $125,000 or to imprisonment for a term not exceeding 3 years or to both.
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(7)  This section does not apply to any information that is public information.
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(8)  In this section —
“deposit insurance authority”, in relation to a levy payer or foreign corporation, means an authority of the foreign country or territory in which the levy payer or foreign corporation is incorporated or established that, whether alone or together with one or more other authorities, is responsible for administering a deposit insurance scheme for deposits of the levy payer or foreign corporation;
“foreign corporation” means a corporation incorporated in a foreign country or territory;
“officer”, in relation to a levy payer, includes —
(a)a director, secretary or an employee of the levy payer;
(b)a receiver or manager of any part of the undertaking of the levy payer appointed under a power contained in any instrument; and
(c)the liquidator of the levy payer appointed in a voluntary winding up;
“parent corporation”, in relation to a levy payer, means a corporation that is able to exercise a significant influence over the direction and management of the levy payer or that has a controlling interest in the levy payer;
“parent supervisory authority”, in relation to a levy payer or a foreign corporation, means the supervisory authority that is responsible, under the laws of the country or territory in which the levy payer or foreign corporation is incorporated or established, for supervising the levy payer or foreign corporation, as the case may be;
“policy owners’ protection scheme authority”, in relation to a levy payer or a foreign corporation, means an authority of the foreign country or territory in which the levy payer or foreign corporation is incorporated or established that, whether alone or together with one or more authorities, is responsible for administering a protection scheme for the policy owners of insurance policies of the levy payer or foreign corporation, as the case may be;
“resolution authority”, in relation to a levy payer or a foreign corporation, means an authority of the foreign country or territory in which the levy payer or foreign corporation is incorporated or established that, whether alone or together with one or more other authorities, is responsible for the resolution, or for preparing plans for dealing with the resolution of, the levy payer or foreign corporation, as the case may be.
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