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CORPORATIONS ACT 2001 - SECT 1317AA

Disclosures qualifying for protection under this Part

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 ;

                            (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.



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