For the purposes of section 295(1)(f) of the Act, the following circumstances are prescribed as circumstances in which disclosure under section 291 or 293(1) of the Act is not required:

(a) the client is an overseas-registered foreign lawyer or a foreign law practice;

(b) the client is a corporation that has a share capital and whose shares or the majority of whose shares are held beneficially for the Commonwealth, a State or a Territory.