Section 51
Assistance that may be rendered
of Payment and Settlement Systems (Oversight) Act
(1)
Notwithstanding the provisions of any written law or any requirement imposed thereunder or any rule of law, the Authority or any person authorised by the Authority may, in relation to a request by a regulatory authority of a foreign country for assistance —
Payment and Settlement Systems
(Oversight)
(a)
transmit to the regulatory authority any material in the possession of the Authority that is requested by the regulatory authority or a copy thereof;
(b)
order any person to furnish to the Authority any material that is requested by the regulatory authority or a copy thereof, and transmit the material or copy to the regulatory authority;
(c)
order any person to transmit directly to the regulatory authority any material that is requested by the regulatory authority or a copy thereof;
(d)
order any person to make an oral statement to the Authority on any information requested by the regulatory authority, record such statement, and transmit the recorded statement to the regulatory authority; or
(e)
request the Government or any statutory corporation to furnish to the Authority any material that is requested by the regulatory authority or a copy thereof, and transmit the material or copy to the regulatory authority.
(2)
The assistance referred to in subsection (1)(c) may only be rendered if the material sought is to enable the regulatory authority to carry out investigation or enforcement.
(3)
An order under subsection (1)(b), (c) or (d) has effect notwithstanding any obligations as to secrecy or other restrictions upon the disclosure of information imposed by any written law or requirement imposed thereunder, rule of law, contract or rule of professional conduct.
(4)
Nothing in this section shall compel an advocate and solicitor —
(a)
to furnish or transmit any material or copy thereof that contains; or
(b)
to disclose, a privileged communication made by or to him in that capacity.
Payment and Settlement Systems
(Oversight)
B.L.R.O. 9/2022 55
(5)
An advocate and solicitor who refuses to furnish or transmit any material or copy thereof that contains, or to disclose, any privileged communication is nevertheless obliged to give the name and address (if he knows them) of the person to whom, or by or on behalf of whom, the privileged communication was made.
(6)
A person is not excused from making an oral statement pursuant to an order made under subsection (1)(d) on the ground that the statement might tend to incriminate him.