Disclosure to foreign institutions and agencies

The Financial Intelligence Unit may disclose any report or information as set out under section 11(1)(m) to an institution or agency of a foreign state or of an international organisation or body or other institution or agency established by the governments of foreign states that has powers and duties similar to those of the Financial Intelligence Unit– (a) on such terms and conditions as are set out in the agreement or arrangement between the Financial Intelligence Unit and that foreign state or international organisation regarding the exchange of such information under section 14; or (b) where such an agreement or arrangement has not been entered into between the Financial Intelligence Unit and that foreign state or international organisation or body, on such terms and conditions as may be agreed upon by the Financial Intelligence Unit and the institution or agency at the time of disclosure, where such terms and conditions shall include the following– (i) restriction on the use of the report or information to purposes relevant to investigating or prosecuting an offence, a money laundering offence, a terrorist 42[CAP. 104 Money Laundering and Terrorism (Prevention) financing offence or an offence that is substantially similar to either offence; and (ii) the stipulation that the report or information be treated in a confidential manner and not be further disclosed without the express consent of the