Financial Transaction Reports Act 1988

PART VIA - RETAINING FINANCIAL TRANSACTION DOCUMENTS  

Division 4 - Obligations relating to closed ADI accounts transferred to another ADI  

SECTION 40P  

40P   COMPLIANT TRANSFEROR ADIs RELEASED FROM RETENTION OBLIGATIONS  

Sections 40F to 40J do not apply to the transferor ADI, in relation to the second document, if it gave the original or a copy of that document to the transferee ADI within the 120-day period relating to the giving of the first document.

Note:

A defendant bears an evidential burden in relation to the defence in this section (see subsection 13.3(3) of the Criminal Code ).