Section 13:
Obligations as to fidelity and secrecy.
(1) Every corresponding new bank shall observe, except
as otherwise required by law, the practices and usages customary among bankers, and, in particular, it
shall not divulge any information relating to or to the affairs of its constituents except in circumstances in
which it is, in accordance with law or practices and usages customary among bankers, necessary or
appropriate for the corresponding new bank to divulge such information.
(2) Every director, member of a local board or a committee, or auditor, adviser, officer or other
employee of a corresponding new bank shall, before entering upon his duties, make a declaration of
fidelity and secrecy in the form set out in the Third Schedule.
(3) Every Custodian of a corresponding new bank shall, as soon as possible, make a declaration of
fidelity and secrecy in the form set out in the Third Schedule.
1[(4) Nothing contained in this section shall apply to the credit information disclosed under the Credit
Information Companies (Regulation) Act, 2005 (30 of 2005).]
Notes:
1. Ins. by Act 30 of 2005, s. 34 and Part IX of the Schedule (w.e.f. 14-12-2006).