36.— (1) Except in the circumstances specified in subsection (2), a person shall not disclose confidential information obtained while performing functions as—

(a) a member of IFI or a committee of IFI,

(b) the chief executive or any other employee of IFI,

(c) a person engaged by IFI as a consultant or adviser, or

(d) an employee of a person referred to in subsection (c).

(2) A person does not contravene subsection (1) by disclosing confidential information if—

(a) IFI authorises its disclosure,

(b) the disclosure is made to IFI,

(c) the disclosure is made to the Minister by or on behalf of IFI or in compliance with a requirement of this Act, or

(d) the disclosure is otherwise required by law.

(3) In this section “confidential information” means—

(a) information that is expressed by IFI to be confidential either as regards particular information or as regards information of a particular class or description, and

(b) proposals of a commercial nature or tenders submitted by any person.

(4) Where a person to whom this section applies fails to comply with a requirement of this section, IFI shall decide the appropriate action (including removal from office or termination of contract) to be taken.

(5) Nothing in subsection (1) shall prevent the disclosure of information—

(a) in a report made to IFI or by or on behalf of IFI to the Minister, or

(b) by a member of IFI to the Minister.