211. Restrictions on particulars to be provided by banks.

The requirement to provide information1 does not oblige a bank2 to provide any particulars of any ordinary banking transactions between the bank and a customer carried out in the ordinary course of banking business, unless either of the following provisions applies3:

  1.  

    (1)     if the bank has acted or is acting on behalf of the customer in connection with:

    1.  

      (a)     the creation of any settlement