8H. Security of information

Question 1

8H. Security of information
- info cannot be released w/o written consent from cos except to Minister, Registrar and their officers or an inspector appointed under Part IX of the Act. and for criminal proceedings

Answer 1

General overview
[8H.01] This section embargoes the release of any information obtained under s 8A or s 8B without the prior consent in writing of the corporation concerned in the investigation except to the persons indicated in the sections and to the relevant authorities and for the purpose of instituting criminal proceedings for an offence under the Act or other relevant legislations. Clearly, a corporation has the right to protect itself against self-incrimination in the sense that it need not divulge information which enables third parties to institute civil proceedings against it.

Question 2

Security and non-disclosure of information

Answer 2

[8H.02] The persons indicated in the sections are the Minister, the Registrar of Companies and their officers or an inspector appointed under Part IX of the Act.

Question 3

Disclosure for purpose of criminal proceedings

Answer 3

[8H.03] However, the publication or disclosure may be made to the relevant persons indicated in the sections and authorities with a view to instituting criminal proceedings under the Act or any criminal proceedings for an offence entailing misconduct in connection with the management of the corporation’s affairs or misapplication or wrongful retention of its property; or for the purpose of exercising the investigation powers under Part IX of the Act; or with a view to the institution of winding up proceedings by the Minister against the corporation; or for the purpose of proceedings under ss 8A and 8B.

Question 4

Failure

Answer 4

[8H.04] Any person who breaches s 8H shall be guilty of an offence and if convicted shall be liable to a fine not exceeding $10,000 or to imprisonment for a term not exceeding two years or both.