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Section 51: Obligation as to fidelity and secrecy.

The National Bank for Agriculture and Rural Development Act, 1981Central Act · Act 61 of 1981

(1) The National Bank shall not, except as otherwise required by this Act or any other law, divulge any information relating to, or to the affairs of, its constituents except in circumstances in which it is, in accordance with the law or practice and usage customary among bankers, necessary or appropriate for the National Bank to divulge such information.

(2) Every director, member of a committee, auditor, officer or other employee of the National Bank or of the Reserve Bank, whose services are utilised by the National Bank under the provisions of this Act, 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.

[(3) Nothing contained in this section shall apply to the credit information disclosed under the Credit Information Companies (Regulation) Act, 2005 (30 of 2005).]

Where this provision sits

ActThe National Bank for Agriculture and Rural Development Act, 1981
Section51
Marginal noteObligation as to 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 30 of 2005. . Ins. by Act 30 of 2005, s. 34 and the Schedule (w.e.f. 14-12-2006).

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