Commonwealth Consolidated Acts

CORPORATIONS ACT 2001 - SECT 1317AA

Disclosure to ASIC, APRA or prescribed body

  (1)   A disclosure of information by an individual (the discloser ) qualifies for protection under this Part   if:

  (a)   the discloser is an eligible whistleblower in relation to a regulated entity; and

  (b)   the disclosure is made to any of the following:

  (i)   ASIC;

  (ii)   APRA;

  (iii)   a Commonwealth authority prescribed for the purposes of this subparagraph in relation to the regulated entity; and

  (c)   subsection   (4) or (5) applies to the disclosure.

Note:   Section   1317AAD (public interest disclosure and emergency disclosure) and paragraph   1317AB(1)(c) (protection from self - incrimination etc.) may apply to a disclosure covered by this subsection.

Disclosure to eligible recipients

  (2)   A disclosure of information by an individual (the discloser ) qualifies for protection under this Part   if:

  (a)   the discloser is an eligible whistleblower in relation to a regulated entity; and

  (b)   the disclosure is made to an eligible recipient in relation to the regulated entity; and

  (c)   subsection   (4) or (5) applies to the disclosure.

Disclosure to legal practitioner

  (3)   A disclosure of information by an individual qualifies for protection under this Part   if the disclosure is made to a legal practitioner for the purpose of obtaining legal advice or legal representation in relation to the operation of this Part.

Disclosable matters

  (4)   This subsection applies to a disclosure of information if the discloser has reasonable grounds to suspect that the information concerns misconduct, or an improper state of affairs or circumstances, in relation to:

  (a)   the regulated entity; or

  (b)   if the regulated entity is a body corporate--a related body corporate of the regulated entity.

  (5)   Without limiting subsection   (4), this subsection applies to a disclosure of information if the discloser has reasonable grounds to suspect that the information indicates that any of the following:

  (a)   the regulated entity, or an officer or employee of the regulated entity;

  (b)   if the regulated entity is a body corporate--a related body corporate of the regulated entity, or an officer or employee of a related body corporate of the regulated entity;

has engaged in conduct that:

  (c)   constitutes an offence against, or a contravention of, a provision of any of the following:

  (i)   this Act;

  (ii)   the ASIC Act;

  (iii)   the Banking Act 1959 ;

  (iiia)   the Financial Accountability Regime Act 2023 ;

  (iv)   the Financial Sector (Collection of Data) Act 2001 ;

  (v)   the Insurance Act 1973 ;

  (vi)   the Life Insurance Act 1995 ;

  (vii)   the National Consumer Credit Protection Act 2009 ;

  (viii)   the Superannuation Industry (Supervision) Act 1993 ;

  (ix)   an instrument made under an Act referred to in any of subparagraphs   (i) to (viii); or

  (d)   constitutes an offence against any other law of the Commonwealth that is punishable by imprisonment for a period of 12 months or more; or

  (e)   represents a danger to the public or the financial system; or

  (f)   is prescribed by the regulations for the purposes of this paragraph.

Note:   There is no requirement for a discloser to identify himself or herself in order for a disclosure to qualify for protection under this Part.