Section 21: Duty to maintain secrecy
consolidated text (as at 2007). juris shows the text as it was consolidated; it does not confirm that this is the law in force today.
21. Duty to maintain secrecy
(1) Except as provided in this Act, no officer or employee of the CDS or a
participant, whether during his tenure of office or during his employment or
thereafter, and no other person who has, by any means, access to any information or document relating to the affairs of a depositor, and in particular,
to his securities accounts, shall give, divulge, reveal or otherwise disclose
such information or document to any other person.
(2) No person who has any information or document which, to his
knowledge, has been disclosed in contravention of subsection (1), shall disclose it to any other person, or make any use of such information for himself
or any other person other than the CDS.
(3) Any person who contravenes this section shall commit an offence
and shall, on conviction, be liable to a fine not exceeding 100,000 rupees or
to imprisonment for a term not exceeding 5 years or to both.