MAE-2.7.1
Past version: Effective from 01 Oct 2008 to 31 Mar 2013
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The obligation to maintain confidentiality shall not apply to the disclosure of
(a) The disclosure of user information is necessary for the making of a complaint or report under any law for an offence alleged or suspected to have been committed under such law;
(b) The disclosure of user information is permitted for such purpose specified in writing by the user or, where the user is deceased, by his appointed personal representative;
(c) The disclosure of user information is necessary for the execution by the licensed exchange or licensed market operator of a transaction in any securities or futures contracts or clearing or settlement of a transaction and such disclosure is made only to another user which is:
1. A party to the transaction; or
2. A member of a licensed exchange or licensed market operator , or a designated clearing house through which that transaction is executed, cleared or settled;
(d) The disclosure of user information is necessary:
1. In any disciplinary proceedings of the licensed exchange or licensed market operator , provided that reasonable steps are taken to ensure that user information disclosed to any third person is used strictly for the purpose for which the user information is disclosed; or
2. For the publication, in any form or manner, of the disciplinary proceedings and the outcome thereof;
(e) The user information disclosed is already in the public domain;
(f) The disclosure of user information is made in connection with:
1. The outsourcing or proposed outsourcing of any function of the licensed exchange or licensed market operator to a third party;
2. The engagement or potential engagement of a third party by the licensed exchange or licensed market operator to create, install or maintain systems of the licensed exchange or licensed market operator ; or
3. The appointment or engagement of an auditor, a lawyer, a consultant or other professional by the licensed exchange or licensed market operator under a contract for service;
(g) The disclosure of user information is necessary in:
1. An application for a grant of probate or letters of administration or the resealing thereof in relation to the estate of a deceased user ; or
2. The administration of the estate of a deceased user , including such disclosure as may be required for this purpose by the relevant authority; or
(h) The disclosure of user information is made in connection with:
1. In the case where the user is an individual, the bankruptcy of a user ; or
2. In the case where the user is a body corporate, the winding up or receivership of a user .