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Section 39: Declaration of fidelity and secrecy.

The Deposit Insurance and Credit Guarantee Corporation Act, 1961Central Act · Act 47 of 1961

[(1)] Every director, auditor, officer or other employee of the Corporation or an employee of the Reserve Bank whose services are utilised by the Corporation under sub-section (2) of section 33 shall, before entering upon his duties, make a declaration of fidelity and secrecy in the form set out in the First Schedule to this Act.

[(2) The Corporation shall observe, except as otherwise required by law, the practices and usages customary among the bankers, and, in particular, it shall not divulge any information relating to an insured bank or its customers or a credit institution or its customers except in circumstances in which it is, in accordance with law or practices or usages customary among bankers, necessary or appropriate for the Corporation to divulge such information.]

[(3) Nothing contained in this section shall apply to the credit information disclosed under the Credit Information Companies (Regulation) Act, 2005.]

Where this provision sits

ActThe Deposit Insurance and Credit Guarantee Corporation Act, 1961
Section39
Marginal noteDeclaration of fidelity and secrecy.
JurisdictionCentral
StatusIn force as published by the source

How this provision has been amended

Taken from the footnotes printed with the provision by the source. Where a footnote names the amending instrument, it is quoted as printed.

  • inserted, Act 21 of 1978. . Ins. by Act 21 of 1978, s. 8 (w.e.f. 15-7-1978).
  • renumbered. . Section 39 re-numbered as sub-section (1) thereof by s. 8, ibid. (w.e.f. 15-7-1978).
  • inserted, Act 30 of 2005. . Ins. by Act 30 of 2005, s. 34 and the Schedule (w.e.f. 14-12-2006).

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