Financial Transaction Reports Act 1988

PART III - ACCOUNTS  

SECTION 22   NOTICE TO AUSTRAC CEO IF NO PRIMARY IDENTIFICATION DOCUMENT EXAMINED  

22(1)    

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If an identification reference for a signatory to an account is given to a cash dealer for the purposes of compliance with this Part and the reference states that the referee examined only a secondary identification document for the signatory, the cash dealer must give the AUSTRAC CEO written notice:

(a) (Omitted by No 164 of 1992)

(b) (Omitted by No 164 of 1992)

(c) setting out sufficient details of the account for the account to be identified;

(d) setting out the name used by the signatory in relation to the account; and

(e) stating that the identification reference for the signatory was not supported by a primary identification document.

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History

S 22(1) amended by No 170 of 2006, s 3 and Sch 1 items 102 and 103, by inserting " for the purposes of compliance with this Part " after " given to a cash dealer " and substituting " AUSTRAC CEO " for " Director " , effective 13 December 2006.

S 22(1) amended by No 164 of 1992.

22(2)    

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A cash dealer who contravenes subsection (1) commits an offence against this subsection punishable, upon conviction, by imprisonment for a period of not more than 2 years.

Note:

Subsection 4B(2) of the Crimes Act 1914 allows a court to impose in respect of an offence an appropriate fine instead of, or in addition to, a term of imprisonment. The maximum fine that a court can impose on an individual is worked out by multiplying the maximum term of imprisonment (in months) by 5, and then multiplying the resulting number by the amount of a penalty unit. The amount of a penalty unit is stated in section 4AA of that Act. If a body corporate is convicted of an offence, subsection 4B(3) of that Act allows a court to impose a fine that is not greater than 5 times the maximum fine that could be imposed by the court on an individual convicted of the same offence.

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History

S 22(2) amended by No 4 of 2016, s 3 and Sch 4 items 1 and 171, by substituting " commits " for " is guilty of " , effective 10 March 2016.

S 22(2) substituted by No 33 of 1997.

S 22 proclaimed to commence 1 February 1991.

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