Cap. 514 Art. 52AUse of confidential information.

(1) Where the competent authority receives confidential information under this Act and any regulations or Pension Rules issued thereunder, it may only use such confidential information in the course of its duties and for the following purposes:

(a) to verify that conditions for taking up the activity for the provision of retirement benefits are met by the retirement scheme before commencing its activities;

(b) to facilitate the monitoring of activities of the retirement scheme, including the monitoring of technical provisions, the solvency, the system of governance and the information provided to members and beneficiaries, as applicable;

(c) to impose corrective measures, including administrative sanctions;

(d) to publish key performance indicators for all individual occupational retirement schemes which may assist members and beneficiaries in taking financial decisions regarding their pension where permitted by national law;

(e) in appeals filed from decisions of the competent authority under article 44;

(f) in judicial proceedings relating to the provisions of the Act, any regulations and, or Pension Rules issued thereunder.

(2) Articles 52 and 52A of the Act shall be without prejudice to the right of inquiry conferred on the European Parliament by Article 226 of the Treaty on the Functioning of the European Union, pursuant to Article 54 of the Occupational Pensions Directive.