(1) A person has qualified privilege in respect of the giving of any information to ASIC that the person:
(a) is required to give under this Chapter or regulations made for the purposes of this Chapter; or
(b) gives in relation to a contravention or suspected contravention of subsection 798H(1) (complying with market integrity rules), 908CF(1) (complying with rules about financial benchmarks) or 981M(1) (complying with client money reporting rules).
(2) A person or body that is:
(a) a market licensee; or
(b) a CS facility licensee; or
(c) a person acting under an arrangement to operate a licensed market or supervise a licensed CS facility; or
(d) a foreign person or body responsible for the supervision of the operation in a foreign country of a financial market or clearing and settlement facility; or
(e) a benchmark administrator licensee;
also has qualified privilege in respect of the giving of any information to ASIC in connection with the performance or exercise of ASIC's functions or powers under, or in relation to, this Chapter or regulations made for the purposes of this Chapter.
(3) A person or body that has qualified privilege under subsection (1) or (2) in respect of conduct is also not liable for any action based on breach of confidence in relation to that conduct.