Requirement for ADI to disclose information
609 Requirement for ADI to disclose information
An ADI is guilty of an offence if:
(a) an external intervener for a law practice requests the ADI to disclose to the intervener:
(i) whether or not the practice, or a specified associate of the practice, maintains or has maintained an account at the ADI during a specified period; or
details identifying every account so maintained; and
the ADI fails to comply with the request.
Maximum penalty: 200 penalty units.
An ADI is guilty of an offence if:
(a) a trust account is kept with the ADI by a law practice or associate of a law practice; and
an external intervener for the practice requests the ADI:
(i) to produce for inspection or copying by the intervener, or a nominee of the intervener, any records relating to any such accounts or money deposited in any such account; or
(ii) to give the intervener full details of any transactions relating to any such account or money; and
the ADI fails to comply with the request.
Maximum penalty: 200 penalty units.
(3) An offence against subsection (1) or (2) is an offence of strict liability.
(4) However, an obligation imposed by this section on an ADI does not apply unless the external intervener produces to the ADI evidence of the appointment of the intervener in relation to the law practice concerned.
(5) A request under this section may be general or limited to particular kinds of accounts.
(6) This section applies despite any privacy legislation or duty of confidence to the contrary.
(7) An ADI or an officer or employee of an ADI is not liable to any action for any loss or damage suffered by another person as a result of producing records or providing details under this section.
This Act’s bill:Explanatory statementSecond reading speech
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