Commonwealth Numbered Acts

SECURITIES INDUSTRY ACT 1980 No. 66, 1980 - SECT 11

11. (1) Where-

   (a)  the Commission, or a person authorized by the Commission, makes a
        requirement under section 8 or 9 of a duly qualified legal
        practitioner in respect of a book; and

   (b)  the book contains a privileged communication made by or on behalf of
        or to the legal practitioner in his capacity as a legal practitioner,
        the legal practitioner is entitled to refuse to comply with the
        requirement unless the person to whom or by or on behalf of whom the
        communication was made or, if the person is a body corporate that is
        under official management or is in the course of being wound up, the
        official manager or the liquidator, as the case may be, agrees to the
        legal practitioner complying with the requirement but, where the legal
        practitioner so refuses to comply with a requirement, he shall
        forthwith furnish in writing to the Commission or authorized person
        the name and address of the person to whom or by whom the
        communication was made. Penalty: $1,000 or imprisonment for 3 months,
        or both.

(2) The Commission, or a person authorized by the Commission, shall not, under
section 8, require a banking corporation or an officer of a banking
corporation to produce a book relating to the affairs of a customer of the
banking corporation unless it appears to the Commission or authorized person
that it is necessary to do so for the purpose of investigating the affairs of
the customer.
(3) In this section, "banking corporation" means-

   (a)  a bank as defined in section 5 of the Banking Act 1959;

   (b)  the Primary Industry Bank of Australia; or

   (c)  a bank constituted under a law of a State or Territory.