Banking Act 1959

Part IV - Gold  

SECTION 46   Limitation on working of gold  

(1)    
A person shall not work or use in manufacture any gold, not being gold lawfully in the person ' s possession for the purpose of being worked or used by the person in connexion with the person ' s profession or trade.

(2)    

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A person commits an offence if:

(a) the person fails to comply with subsection (1); and

(b) (Repealed by No 154 of 2007)

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(c) there is no instrument in force under section 48 exempting the person from the application of subsection (1).

Penalty: 200 penalty units.

Note 1:

Chapter 2 of the Criminal Code sets out the general principles of criminal responsibility.

Note 2:

If a body corporate is convicted of an offence against this subsection, subsection 4B(3) of the Crimes Act 1914 allows a court to impose a fine of up to 5 times the penalty stated above.

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History

S 46(2) amended by No 82 of 2010 (as amended by No 136 of 2012), s 3 and Sch 6 item 20, by substituting " Penalty " for " Maximum penalty " in the penalty, effective 27 July 2010.

S 46(2) amended by No 154 of 2007, s 3 and Sch 1 item 43, by repealing para (b), effective 24 September 2007. Para (b) formerly read:

(b) there is no order in force under section 11 determining that subsection (1) does not apply to the person; and

(3)    
An offence against subsection (2) is an indictable offence.

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