(1) A member of the Board and an officer or an employee of the Commission shall

(a) take an oath of confidentiality in the form set out by the Commission, before performing a duty; and

(b) maintain the confidentiality of a matter in relation to that duty which comes to the knowledge of that Board member, officer or employee dining and not more than seven years after die relationship with the Commission.

(2) A person referred to in subsection (1) shall not communicate to any unauthorized person a confidential matter relating to duties of that person except

(a) for the purposes of this Act or any other law; or

(b) where authorized to do so by the Commission.

(3) The Commission shall treat as confidential all non-public information obtained by the Commission in the performance of its duties.

(4) The Commission shall only disclose non-public information to fulfill an obligation imposed by law or in accordance with international securities regulatory practices.

(5) Where the Commission is required to disclose non-public information to fulfill an obligation imposed by law, the Commission shall use its available privileges of an application for a variation, review or appeal against die order to resist disclosure before die Court to keep the information confidential.

(6) Where the non-public information required to be disclosed was provided by a foreign regulatory authority, the Commission shall notify that foreign regulatory authority before disclosing information under subsection (4) to the relevant authority.

(7) Where non-public information is to be disclosed by the Commission on the orders of a court, the disclosure shall be made in camera.

(8) A person who contravenes subsections (1) and (2) commits an offence and is liable on summary conviction to a fine of not less than one hundred and fifty penalty units and not more than two hundred and fifty penalty units or to a term of imprisonment of not less than one year and not more than two years or to both.