Commonwealth Numbered Acts

CORPORATIONS ACT 1989 No. 109 of 1989 - SECT 1181

1181. (1) Where the Commission believes on reasonable grounds that:
(a) a person (in this section called the "holder") holds, or will hold, a
proper authority from a licensee that is a corporation;

   (b)  having regard to that fact, the Commission should give to the licensee
        particular information that the Commission has about the person; and

   (c)  the information is true; the Commission may give the information to
        the licensee.

(2) Where the Commission gives information under subsection (1), the licensee
or an officer of the licensee may, for a purpose connected with:

   (a)  the licensee making a decision about what action (if any) to take in
        relation to the holder, having regard to, or to matters including, the
        information; or

   (b)  the licensee taking action pursuant to such a decision; or for 2 or
        more such purposes, and for no other purpose, give to another person,
        make use of, or make a record of, some or all of the information.

(3) A person to whom information has been given, in accordance with subsection
(2) or this subsection, for a purpose or purposes may, for that purpose or one
or more of those purposes, and for no other purpose, give to another person,
make use of, or make a record of, that information.

(4) Subject to subsections (2) and (3), a person shall not give to another
person, make use of, or make a record of, information given by the Commission
under subsection (1).

(5) A person has qualified privilege in respect of an act done by the person
as permitted by subsection (2) or (3).

(6) A person to whom information is given in accordance with this section
shall not:

   (a)  give any of the information to a court; or

   (b)  produce in a court a document that sets out some or all of the
        information; except:

   (c)  for a purpose connected with:

        (i)    the licensee making a decision about what action (if any) to
               take in relation to the holder, having regard to, or to matters
               including, some or all of the information;

        (ii)   the licensee taking action pursuant to such a decision; or

        (iii)  proving in a proceeding in that court that particular action
               taken by the licensee in relation to the holder was so taken
               pursuant to such a decision;
or for 2 or more such purposes, and for no other purpose;

   (d)  in a proceeding in that court, in so far as the proceeding relates to
        an alleged contravention of this section;

   (e)  in a proceeding in respect of an ancillary offence relating to an
        offence against this section; or

   (f)  in a proceeding in respect of the giving to a court of false
        information being or including some or all of the first-mentioned
        information.

(7) A reference in this section to a person taking action in relation to
another person is a reference to the first-mentioned person:

   (a)  taking action by way of making, terminating, or varying the terms and
        conditions of; or

   (b)  otherwise taking action in relation to; a relevant agreement, in so
        far as the relevant agreement relates to the other person being
        employed by, or acting for or by arrangement with, the first-mentioned
        person in connection with:

   (c)  if one of those persons is a corporation-a futures broking business or
        futures advice business; or

   (d)  otherwise-an eligible futures broking business or eligible futures
        advice business; carried on by the first-mentioned person.

(8) In this section:

"court" means an Australian court, or a court of an excluded Territory or of a
country outside Australia and the external Territories.