AI Summary of 28. Sharing of information and cooperation between Bank and Private Security Authority
The term "Authority" refers to the Private Security Authority. The Authority may provide information concerning Cash-in-Transit (CIT) providers to the Bank, provided that the Authority is satisfied that the information is necessary for the Bank’s functions regarding CIT providers. The Bank is restricted to using this information solely for its functions pertaining to these providers.
The Bank and the Authority may enter into agreements to enhance administrative efficiency and cooperation, avoid duplication of activities, and allow for information sharing related to compliance monitoring of CIT providers. Such agreements must be documented in writing and can be varied by the parties. However, neither party is bound to provide information if such disclosure is restricted under applicable laws or regulations.
28. Sharing of information and cooperation between Bank and Private Security Authority
(1) In this section, "Authority" means the Private Security Authority.
(a) The Authority may provide, to the Bank, information in relation to CIT providers which the Authority acquires in the course of the performance of its functions under the Act of 2004 if the Authority is reasonably satisfied that information is required by the Bank for the purposes of the performance of the Bank’s functions under this Act in so far as they relate to CIT providers.
(b) Where the Bank receives information from the Authority under this subsection, that information may only be used by the Bank for the purposes of the performance of its functions under this Act in so far as they relate to CIT providers.
(3) The Bank and the Authority, in so far as it is consistent with the proper performance of their respective functions under this Act and the Act of 2004, may enter into one or more than one agreement or arrangement (whether in the form of a memorandum of understanding or otherwise) from time to time for the purposes of -