Duty to supply information to competent authority

(1) Where the competent authority is satisfied that a request for information from a Member State falls within the terms of the Convention, the competent authority may in writing require any bank, financial institution, reporting entity, supervisory authority, IFS Practitioner, Trust Agent, Registered Agent of International Business Companies, Foundations or International Limited Liability Companies, Service Providers, Registrar of (local) Companies, Registrar of International Business Companies, Registrars of domestic and International Trusts, Registrar of Foundations, Registrar of Limited Liability Partnerships, Registrar of International Limited Liability Companies, Supervisor of (domestic) Insurance, Supervisor of Mutual Administrative Assistance International Insurance, taxing authority, public statutory corporations, public officers, or any other person, who the competent authority believes may have relevant information, to furnish such information or produce such documents as may be required to comply with the request for information. (2) Every person who is required by the competent authority to provide information or produce documents pursuant to this Act shall provide the requisite information or documents as soon as possible but no later than thirty days from the date of the request for information. (3) Every person who refuses or fails to supply such information or documents to the competent authority, or wilfully supplies false or misleading information, shall be guilty of an offence and shall be liable on summary conviction to a fine not exceeding five thousand dollars or to imprisonment for a term not exceeding two years, or to both such fine and term of imprisonment.. (4) No restrictions on the disclosure of information contained in any other law shall apply to a request for information pursuant to the Convention and no suit for breach of confidentiality or other such action shall lie against any person who discloses information, produces documents or renders other assistance in compliance with a request for information under this Act.