Personal Data (Privacy) Ordinance Part 8 8-16 Section 58 Cap. 486 (a) arrangements having effect under section 49(1A) of the Inland Revenue Ordinance (Cap. 112) are made with the government of that territory; and (b) that tax is the subject of a provision of the arrangements that requires disclosure of information concerning tax of that territory. (Added 1 of 2010 s. 9) (2) Personal data is exempt from the provisions of data protection principle 3 in any case in which—  (Amended 18 of 2012 s. 31) (a) the use of the data is for any of the purposes referred to in subsection (1) (and whether or not the data is held for any of those purposes); and (Amended 18 of 2012 s. 31) (b) the application of those provisions in relation to such use would be likely to prejudice any of the matters referred to in that subsection, and in any proceedings against any person for a contravention of any of those provisions it shall be a defence to show that he had reasonable grounds for believing that failure to so use the data would have been likely to prejudice any of those matters. (3) Paragraphs (f)(ii) and (g) of subsection (1) apply to any functions of a financial regulator— (a) for protecting members of the public against financial loss arising from— (i) dishonesty, incompetence, malpractice or seriously improper conduct by persons— (A) concerned in the provision of banking, insurance, investment or other financial services; (B) concerned in the management of companies; Verified Copy Last updated date 25.4.2013