Crimes Legislation Amendment (Serious and Organised Crime) Act (No. 2) 2010 (4 of 2010)

Schedule 1 Proceeds of crime

Repeal the definition, substitute:

account means any facility or arrangement through which a *financial institution accepts deposits or allows withdrawals and includes:

(a) a facility or arrangement for:

(i) a *fixed term deposit; or

(ii) a safety deposit box; and

(b) a credit card account; and

(d) an account held in the form of units in:

(i) a cash management trust; or

(ii) a trust of a kind prescribed by the regulations; and

(e) a closed account.

To avoid doubt, it is immaterial whether:

(f) an account has a nil balance; or

(g) any transactions have been allowed in relation to an account.