Financial Transaction Reports Act 1988 (Cth)

Financial Transaction Reports Act 1988

No. 64, 1988

Compilation No. 53

Compilation date: 20 October 2023

Includes amendments up to: Act No. 76, 2023

Registered: 14 November 2023

About this compilation

This compilation

This is a compilation of the Financial Transaction Reports Act 1988 that shows the text of the law as amended and in force on 20 October 2023 (the compilation date).

The notes at the end of this compilation (the endnotes) include information about amending laws and the amendment history of provisions of the compiled law.

Uncommenced amendments

The effect of uncommenced amendments is not shown in the text of the compiled law. Any uncommenced amendments affecting the law are accessible on the Register ( The details of amendments made up to, but not commenced at, the compilation date are underlined in the endnotes. For more information on any uncommenced amendments, see the Register for the compiled law.

Application, saving and transitional provisions for provisions and amendments

If the operation of a provision or amendment of the compiled law is affected by an application, saving or transitional provision that is not included in this compilation, details are included in the endnotes.

Editorial changes

For more information about any editorial changes made in this compilation, see the endnotes.

Modifications

If the compiled law is modified by another law, the compiled law operates as modified but the modification does not amend the text of the law. Accordingly, this compilation does not show the text of the compiled law as modified. For more information on any modifications, see the Register for the compiled law.

Self‑repealing provisions

If a provision of the compiled law has been repealed in accordance with a provision of the law, details are included in the endnotes.

Contents

An Act to provide for the reporting of certain transactions and transfers and to impose certain obligations in relation to accounts, and for related purposes

Part IPreliminary 1Short title

This Act may be cited as the Financial Transaction Reports Act 1988.

2Commencement

(1)
Section 1 and this section shall come into operation on the day on which this Act receives the Royal Assent.
(2)
The remaining provisions of this Act shall come into operation on a day or days fixed by Proclamation.

3Interpretation

(1)
In this Act, unless the contrary intention appears:
ACC means the Australian Crime Commission.
acceptable referee means a person in a class of persons declared by the Minister, by notice in the Gazette, to be acceptable referees for the purposes of this definition.
account means (except in Part VIA) any facility or arrangement by which a cash dealer does any of the following:
1. (a)
  accepts deposits of currency;
2. (b)
  allows withdrawals of currency;
3. (c)
  pays cheques or payment orders drawn on the cash dealer by, or collects cheques or payment orders on behalf of, a person other than the cash dealer;
and includes any facility or arrangement for a safety deposit box or for any other form of safe deposit, but does not include an arrangement for a loan that sets out the amounts and times of advances and repayments, being amounts and times from which the borrower and lender may not depart during the term of the loan.
Note: Section 40C defines account for the purposes of Part VIA.
account information, in relation to an account with a cash dealer, means:
1. (a)
  information identifying the account, including any identifying number; and
2. (b)
  the name in which the account is held; and
3. (c)
  information, and documents, provided to the cash dealer by the holder of the account (whether provided in relation to that account or another account), as follows:
  1. (i)
    an address, not being a Post Office Box address, for the holder of the account;
  2. (ii)
    if the account is held in:
    1. (A)
      the name or names of an individual or individuals; or
    2. (B)
      the name of an unincorporated association;
  that fact;
  1. (iii)
    if the account is held in the name of a body corporate (other than as a trustee)—that fact and a copy of the certificate of incorporation (if any) of the body corporate;
  2. (iv)
    if the account is held in a business name registered on the Business Names Register—that fact and a copy of the entry in the Business Names Register obtained under section 60 of the Business Names Registration Act 2011 relating to the business name and containing the details referred to in paragraphs 33(1)(a), (b), (d) and (e) of that Act (identification details, business name, address for service and period of registration);
  3. (iva)
    if the account is held in a business name of which registration on the Business Names Register has been applied for but not yet obtained—that fact and a copy of the application;
  4. (v)
    if the account is held in trust—that fact and the prescribed details of the trustees and beneficiaries of the trust.
ADI (authorised deposit‑taking institution) means:
1. (a)
  a body corporate that is an ADI for the purposes of the Banking Act 1959; or
2. (b)
  the Reserve Bank of Australia; or
3. (c)
  a person who carries on State banking within the meaning of paragraph 51(xiii) of the Constitution.
AFP member means a member or special member of the Australian Federal Police.
approved means approved by the AUSTRAC CEO, in writing, for the purposes of the provision in which the term occurs.
approved cash carrier means a cash dealer declared by the AUSTRAC CEO to be an approved cash carrier under section 8.
AUSTRAC means the Australian Transaction Reports and Analysis Centre continued in existence by the Anti‑Money Laundering and Counter‑Terrorism Financing Act 2006.
AUSTRAC CEO means the Chief Executive Officer of AUSTRAC.
Australia, when used in a geographical sense, includes the external Territories.
authorised officer means a person in respect of whom an appointment as an authorised officer for the purposes of this Act is in force under section 27A.
banker includes a body corporate that is an ADI.
Board of the ACC means the Board of the Australian Crime Commission established under section 7B of the Australian Crime Commission Act 2002.
bullion seller means a person who carries on a business of selling bullion.
business hours, in relation to a place, means the period between 9 am and 5 pm on a day other than:
1. (a)
  a Saturday; or
2. (b)
  a Sunday; or
3. (c)
  a day that is a public holiday in that place.
Business Names Register means the Register established and maintained under section 22 of the Business Names Registration Act 2011.
business premises, in relation to a person, means premises, or a part of premises, of the person used, wholly or partly, for the purposes of business operations of the person, but does not include premises, or a part of premises, used as a place of residence.
cash dealer means:
1. (a)
  a financial institution;
2. (b)
  a body corporate that is, or, if it had been incorporated in Australia, would be, a financial corporation within the meaning of paragraph 51(xx) of the Constitution;
3. (c)
  a motor vehicle dealer who acts as an insurer or insurance intermediary;
4. (d)
  a financial services licensee (within the meaning of the Corporations Act 2001) whose licence covers either or both of the following:
  1. (i)
    dealing in securities (as defined by subsection 92(1) of the Corporations Act 2001);
  2. (ii)
    dealing in derivatives (within the meaning of Chapter 7 of the Corporations Act 2001);
5. (f)
  a Registrar or Deputy Registrar of a Registry established under section 14 of the Commonwealth Inscribed Stock Act 1911;
6. (g)
  a trustee or manager of a unit trust;
7. (h)
  a person who carries on a business of issuing, selling or redeeming travellers cheques, money orders or similar instruments;
8. (j)
  a person who is a bullion seller;
9. (k)
  a person (other than a financial institution or a real estate agent acting in the ordinary course of real estate business) who carries on a business of:
  1. (ia)
    exchanging one currency for another, or converting currency into prescribed commercial instruments, on behalf of other persons; or
  2. (ib)
    remitting or transferring currency or prescribed commercial instruments, or making electronic funds transfers, into or out of Australia on behalf of other persons or arranging for such remittance or transfer; or
  3. (ii)
    preparing pay‑rolls on behalf of other persons in whole or in part from currency collected;
10. (l)
  a person (other than a financial institution or a real estate agent acting in the ordinary course of real estate business) who carries on a business in Australia of:
  1. (i)
    on behalf of other persons, arranging for funds to be made available outside Australia to those persons or others; or
  2. (ii)
    on behalf of persons outside Australia, making funds available, or arranging for funds to be made available, in Australia to those persons or others;
11. (m)
  a person who carries on a business of operating a gambling house or casino; and
12. (n)
  a bookmaker, including a totalisator agency board and any other person who operates a totalisator betting service.
cash transaction means a transaction involving the physical transfer of currency from one person to another.
citizenship certificate, in respect of a person, means a certificate, declaration, notice or other instrument in respect of the person’s status as an Australian citizen or British subject, or otherwise in respect of the person’s nationality, issued under:
1. (aa)
  the Australian Citizenship Act 2007; or
2. (a)
  the Australian Citizenship Act 1948;
or under regulations made under either of those Acts.
commence to provide a designated service has the same meaning as in the Anti‑Money Laundering and Counter‑Terrorism Financing Act 2006.
commercial goods carrier means a person who, in the normal course of a lawful business, carries goods or mail for reward.
commercial passenger carrier means a person who, in the normal course of a lawful business, carries passengers for reward.
Commissioner means the Commissioner of Taxation.
Comptroller‑General of Customs means the person who is the Comptroller‑General of Customs in accordance with subsection 11(3) or 14(2) of the Australian Border Force Act 2015.
co‑operative housing society means a society registered or incorporated as a co‑operative housing society or similar society under a law of a State or Territory.
currency means the coin and paper money of Australia or of a foreign country that:
1. (a)
  is designated as legal tender; and
2. (b)
  circulates as, and is customarily used and accepted as, a medium of exchange in the country of issue.
customer‑generated financial transaction document has the meaning given by section 40D.
customs officer means an officer of Customs within the meaning of the Customs Act 1901.
designated service has the same meaning as in the Anti‑Money Laundering and Counter‑Terrorism Financing Act 2006.
designated service transaction: if:
1. (a)
  a reporting entity provides, or commences to provide, a designated service to a customer (within the meaning of the Anti‑Money Laundering and Counter‑Terrorism Financing Act 2006); and
2. (b)
  the provision of the service involves a transaction;
the transaction is a designated service transaction.
established customer, in relation to a financial institution as at a particular time, means a person who has been a customer of the financial institution for not less than 12 months immediately preceding that time.
examiner has the same meaning as in the Australian Crime Commission Act 2002.
financial institution means:
1. (a)
  an ADI; or
2. (b)
  a co‑operative housing society;
and, in Part VIA, includes:
1. (c)
  a body corporate that is, or that, if it had been incorporated in Australia, would be, a financial corporation within the meaning of paragraph 51(xx) of the Constitution; and
2. (d)
  a person who carries on a business of operating a casino; and
3. (e)
  a totalisator agency board.
foreign currency means the currency of a foreign country.
FTR information means information obtained by the AUSTRAC CEO under Part II and includes information included in a notice under subsection 22(1) or in a copy of a record given under subsection 24(5).
given name means a name other than a surname.
identification document means a primary identification document or a secondary identification document.
identification record has the meaning given by section 20A or section 24C, as the context requires.
identification reference has the meaning given by section 21.
identifying cash dealer means a cash dealer in respect of whom a declaration under section 8A is in force.
insurance broker means a person who carries on the business of arranging contracts of insurance, whether in Australia or elsewhere, as agent for intending insureds.
insurance business means the business of undertaking liability, by way of insurance (including reinsurance), in respect of any loss or damage, including liability to pay damages or compensation, contingent upon the happening of a specified event, and includes any business incidental to insurance business as so defined, but does not include:
1. (a)
  health insurance business within the meaning of Division 121 of the Private Health Insurance Act 2007 carried on by a private health insurer within the meaning of that Act; or
2. (b)
  business undertaken by a person, being an innkeeper or lodging‑house keeper, relating only to the person’s liability in respect of goods belonging to another person and in the possession or under the control of a guest at the inn or lodging‑house of which the first‑mentioned person is the innkeeper or lodging‑house keeper or deposited with the innkeeper or lodging‑house keeper for safe custody; or
3. (c)
  the business of insuring property of a registered religious institution (within the meaning of the Fringe Benefits Tax Assessment Act 1986) where the person carrying on the business does not carry on any other insurance business.
insurance intermediary means a person who:
1. (a)
  for reward; and
2. (b)
  as an agent for one or more insurers or as an agent of intending insureds;
arranges contracts of insurance in Australia or elsewhere, and includes an insurance broker.
insured means a person (other than the insurer) who is entitled to a benefit under a contract of life insurance.
insurer means a person who carries on an insurance business.
international funds transfer instruction means an instruction for a transfer of funds that is transmitted into or out of Australia electronically or by telegraph, but does not include an instruction of a prescribed kind.
international travel document means:
1. (a)
  a current passport; or
2. (b)
  an expired passport that:
  1. (i)
    was not cancelled; and
  2. (ii)
    was current within the preceding 2 years; or
3. (c)
  another current identity document, having the characteristics of a passport, issued by a government, the United Nations or an Agency of the United Nations for the purposes of international travel.
member of the staff of the ACC has the same meaning as in the Australian Crime Commission Act 2002.
minimum retention period has the meaning given by section 40E.
National Anti‑Corruption Commissioner means the Commissioner within the meaning of the National Anti‑Corruption Commission Act 2022.
non‑reportable cash transaction means a cash transaction:
1. (a)
  to which a cash dealer is a party; and
2. (b)
  that is not a significant cash transaction or is an exempt cash transaction; and
3. (c)
  that is not a designated service transaction that occurred after the commencement of Division 3 of Part 3 of the Anti‑Money Laundering and Counter‑Terrorism Financing Act 2006.
non‑reportable transfer, in relation to currency, means a transfer of currency out of Australia or into Australia in respect of which a report under section 15 is not required.
official, in relation to a Royal Commission, means:
1. (a)
  a legal practitioner appointed to assist the Commission; or
2. (b)
  a person otherwise assisting the Commission and authorised in writing by the sole Commissioner or a member of the Commission.
paper money means money comprising a note written, printed or otherwise made on paper or any other material.
police officer means:
1. (a)
  an AFP member; or
2. (b)
  a member of the police force of a State or Territory.
prescribed commercial instrument means:
1. (a)
  a cheque, bill of exchange, promissory note or other like instrument creating an entitlement to currency; or
2. (b)
  any instrument (including an electronic instrument) that is declared to be a prescribed commercial instrument for the purposes of this definition.
primary identification document, in relation to a person, in a particular name, means:
1. (a)
  a certified copy, or an extract, of a birth certificate of the person; or
2. (b)
  a certified copy of a citizenship certificate of the person; or
3. (c)
  an international travel document for the person; or
4. (d)
  any other prescribed document;
that shows that name as the person’s name.
produce includes permit access to.
public authority means an authority or body, whether a body corporate or not, established or incorporated for a public purpose by or under a law of the Commonwealth or of a State or Territory.
reporting entity has the same meaning as in the Anti‑Money Laundering and Counter‑Terrorism Financing Act 2006.
reporting period, in relation to a significant cash transaction, means:
1. (a)
  if the transaction involves foreign currency—the period ending at the end of the day after the day on which the transaction takes place or such longer period as is prescribed by the regulations;
2. (b)
  if` the transaction does not involve foreign currency—the period ending at the end of 15 days after the day on which the transaction takes place.
required details, in relation to an identification document, means:
1. (a)
  in the case of a birth certificate—the name and date of birth of the person in respect of whose birth the certificate is given and the date and office of issue of the certificate;
2. (b)
  in the case of a citizenship certificate—the name and date of birth of the person in respect of whom the certificate is issued, the date of issue of the certificate and the name of the person who issued the certificate;
3. (c)
  in the case of a passport—the name and date of birth of the person to whom the passport is issued and the country and date of issue and the number of the passport; and
4. (d)
  in the case of a secondary identification document—the name shown in the document as the name of the person to whom or in respect of whom the document was issued, the date of birth of that person (if shown), the address of that person (if shown), the kind of document, the person who or the authority that issued the document, the identifying number (if any) of the document and the date of issue or expiry (if any) of the document.
retail business means a business:
1. (a)
  the principal element of which is the provision of goods to ultimate consumers; and
2. (b)
  the takings or receipts of which include substantial amounts of currency.
RSA has the same meaning as in the Retirement Savings Accounts Act 1997.
secondary identification document, in relation to a person in a particular name, means a document (other than a primary identification document) which establishes the identity of the person in that name.
send, in relation to currency, includes send through the post.
signatory, in relation to an account with a cash dealer, means the person, or one of the persons, on whose instructions (whether required to be in writing or not and whether required to be signed or not) the cash dealer conducts transactions in relation to the account.
signatory information, in relation to a signatory to an account with a cash dealer, means information and documents (whether obtained by the cash dealer in relation to that account or another account), as follows:
1. (a)
  the name used by the signatory as his or her name in relation to that account;
2. (b)
  if the account is held in the name of an unincorporated association—a copy of the instrument authorising the signatory to sign;
3. (c)
  any other name by which the signatory is commonly known, being a name disclosed to the cash dealer;
4. (d)
  an identification record for the signatory in accordance with section 20A.
significant cash transaction means a cash transaction involving the transfer of currency of not less than $10,000 in value.
solicitor means a person who practises as a solicitor, whether by himself or herself, as a member of a solicitor corporation or as a member of a partnership of solicitors, and whether or not the person also practises as a barrister.

State includes the Northern Territory.
surname includes a family name.
taxation law has the same meaning as in the Taxation Administration Act 1953.
taxation officer means:
1. (a)
  a Second Commissioner of Taxation;
2. (b)
  a Deputy Commissioner of Taxation; and
3. (c)
  a person appointed or engaged under the Public Service Act 1999 and performing duties in the Australian Taxation Office.
Territory does not include the Northern Territory.
totalisator agency board means a board or authority established by or under a law of a State or Territory for purposes that include the purpose of operating a betting service.
transaction, in Division 2 of Part II, has a meaning affected by subsection 3(7).
unit trust means a trust to which a unit trust scheme relates and includes:
1. (a)
  a cash management trust;
2. (b)
  a property trust; and
3. (c)
  an arrangement declared by the Minister, by notice in writing published in the Gazette, to be a unit trust for the purposes of this definition;
but does not include an arrangement declared by the Minister, by notice in writing published in the Gazette, not to be a unit trust for the purposes of this definition.
unit trust scheme means any arrangement made for the purpose, or having the effect, of providing, for a person having funds available for investment, facilities for the participation by the person as a beneficiary under a trust, in any profits or income arising from the acquisition, holding, management or disposal of any property pursuant to the trust.
(2)
A reference in this Act to a document being signed by a party to a transaction includes a reference to the document being signed on the party’s behalf.
(3)
A reference in this Act to transferring currency out of Australia is a reference to taking or sending currency out of Australia.
(4)
A reference in this Act to transferring currency into Australia is a reference to bringing or sending currency into Australia.
(5)
For the purposes of this Act, where a person’s name consists of one or more given names and a surname, the following names shall be taken not to be different from one another:
1. (a)
  a name consisting of that given name or those given names and that surname;
2. (b)
  a name consisting of any one or more of those given names and that surname;
3. (c)
  a name consisting of a nickname of the person and that surname;
4. (d)
  a name consisting of a nickname of the person, that given name or those given names and that surname;
5. (e)
  a name consisting of a nickname of the person, one or more of those given names and that surname.
(6)
A reference in subsection (5) to a given name of a person includes a reference to a diminutive form or Anglicised form of a given name of the person.
(7)
Division 2 of Part II applies in relation to a proposal for a transaction, or negotiations for a transaction, in the same way as it applies in relation to a completed transaction.

3ATranslation of foreign currency to Australian currency

In determining, for the purposes of this Act, whether an amount of foreign currency (including an amount in which a bearer negotiable instrument or other document is denominated) is not less than an Australian dollar amount, the amount of foreign currency is to be translated to Australian currency at the exchange rate applicable at the relevant time.

4Objects of Act

(1)
The principal object of this Act is to facilitate the administration and enforcement of taxation laws.
(2)
A further object of this Act is to facilitate the administration and enforcement of laws of the Commonwealth and of the Territories (other than taxation laws).
(3)
Without prejudice to the effect of this Act by virtue of subsections (1) and (2), a further object of this Act is to make information collected for the purposes referred to in subsection (1) or (2) available to State authorities to facilitate the administration and enforcement of the laws of the States.

5Act to bind Crown

(1)
This Act binds the Crown in right of the Commonwealth, of each of the States and of the Australian Capital Territory.
(2)
Nothing in this Act renders the Crown in right of the Commonwealth, of a State or of the Australian Capital Territory liable to be prosecuted for an offence.

6Act to apply both within and outside Australia

This Act applies throughout the whole of Australia and also applies outside Australia.

6AApplication of the Criminal Code

Chapter 2 of the Criminal Code (except Part 2.5) applies to all offences against this Act.
Note: Chapter 2 of the Criminal Code sets out the general principles of criminal responsibility.

Part IITransaction reportsDivision 1Cash transaction reports by cash dealers7Reports of significant cash transactions by cash dealers

(1)
Where a cash dealer is a party to a significant cash transaction, the dealer shall, before the end of the reporting period:
1. (a)
  prepare a report of the transaction; and
2. (b)
  communicate the information contained in the report to the AUSTRAC CEO;
unless:
1. (c)
  the transaction is, at the time when it occurs, an exempt transaction; or
2. (d)
  the transaction is, at the time when it occurs, eligible for exemption and becomes, before the end of the reporting period, an exempt transaction; or
3. (e)
  the cash dealer is an approved cash carrier; or
4. (f)
  all of the following conditions are satisfied:
  1. (i)
    the cash dealer is a reporting entity;
  2. (ii)
    the transaction occurred after 11 March 2010;
  3. (iii)
    the transaction is a designated service transaction.
(1A)
Subsection (1) does not apply in relation to a transaction if the cash dealer complies with section 43 of the Anti‑Money Laundering and Counter‑Terrorism Financing Act 2006 in relation to the transaction.
(2)
The report shall be prepared in the approved form, contain the reportable details of the transaction and be signed by the cash dealer or otherwise authenticated by the cash dealer in a way approved by the AUSTRAC CEO.
(3)
The communication shall be made to the AUSTRAC CEO:
1. (a)
  by giving the AUSTRAC CEO a copy of the report; or
2. (b)
  in such other manner and form as is approved by the AUSTRAC CEO, in writing, in relation to the cash dealer or to a class of cash dealers that includes the cash dealer.
(4)
In this section:
reportable details, in relation to a transaction, means the details of the transaction that are referred to in Schedule 1.

8Approved cash carriers

(1)
The AUSTRAC CEO may, by notice published in the Gazette, declare a cash dealer, being a person referred to in paragraph (k) of the definition of cash dealer in subsection 3(1), to be an approved cash carrier if the AUSTRAC CEO is satisfied that:
1. (a)
  the cash dealer maintains records containing reportable details of significant cash transactions to which the cash dealer is a party; and
2. (b)
  the declaration of the cash dealer as an approved cash carrier would not be inconsistent with the objects of this Act.
(2)
In this section:
reportable details has the same meaning as in section 7.

8AIdentifying cash dealers

(1)
A cash dealer may apply in writing to the AUSTRAC CEO to be declared an identifying cash dealer.
(2)
An application must be accompanied by a written undertaking in the approved form, by which the applicant undertakes:
1. (a)
  to carry out the verification procedures under paragraph 20A(1)(b), where that paragraph applies, and to take all reasonable steps to complete the procedures promptly in each case; and
2. (b)
  to report under section 16 in relation to information obtained by the applicant as a result of carrying out the procedures mentioned in paragraph (a); and
3. (c)
  to give the AUSTRAC CEO, in respect of such periods as are determined by the AUSTRAC CEO, written reports on the applicant’s compliance with this Act; and
4. (d)
  to do such other things (if any) as are specified in the form.
(3)
An application, and the undertaking accompanying it, must be signed by the applicant personally or, if the applicant is a body corporate, by its principal executive officer.
(4)
On receipt of an application and an undertaking, the AUSTRAC CEO may, by notice in the Gazette, declare the applicant to be an identifying cash dealer if satisfied that such a declaration would not be inconsistent with the objects of this Act.
(5)
The AUSTRAC CEO may, by notice in the Gazette, revoke a declaration, or suspend it for a specified period or until a specified act is done, if satisfied that the relevant identifying cash dealer has failed to honour the undertaking given by the cash dealer under this section.
(6)
A declaration stops being in force on its revocation or during a period when it is suspended.
(7)
The AUSTRAC CEO may, for the purposes of this section, approve different forms to be used by different classes of applicants.
(8)
In this section:
principal executive officer, in relation to a body corporate means the person who is for the time being its principal executive officer, whether or not the person is a director of the body corporate.

9Exempt cash transactions

(1)
Subject to subsection (2), a significant cash transaction between a financial institution and another person is an exempt transaction, so far as the institution is concerned, if:
1. (a)
  the transaction has been entered in the institution’s exemption register; or
2. (b)
  the transaction falls within a class of transactions entered in the institution’s exemption register against the name of that person.
(2)
Where the AUSTRAC CEO gives a financial institution a direction under subsection 11(3), a significant cash transaction between the financial institution and another person is not an exempt transaction, so far as the institution is concerned, if exemption of the transaction would be inconsistent with the direction.
(3)
Where:
1. (a)
  a significant cash transaction between a financial institution and another person is an exempt transaction so far as the financial institution is concerned; and
2. (b)
  the other person is a cash dealer;
the transaction is also an exempt transaction so far as the cash dealer is concerned.
(4)
A significant cash transaction is also an exempt transaction if it is between:
1. (a)
  a financial services licensee (within the meaning of the Corporations Act 2001) whose licence covers dealing in derivatives (within the meaning of Chapter 7 of that Act); and
2. (b)
  a clearing and settlement facility (within the meaning of that Act) that is associated with a financial market (within the meaning of Chapter 7 of that Act) of which the financial services licensee is a member.

10Transactions eligible for exemption

(1)
A significant cash transaction is eligible for exemption if:
1. (a)
  the transaction is between a financial institution and another financial institution; or
2. (b)
  the transaction is between a cash dealer (not being a financial institution) and a financial institution.
(2)
A significant cash transaction is also eligible for exemption if:
1. (a)
  the transaction is between a financial institution and another person (in this subsection called the customer);
2. (b)
  the customer is, at the time when the transaction takes place, an established customer of the institution;
3. (c)
  the transaction consists of a deposit into, or a withdrawal from, an account maintained by the customer with the institution;
4. (d)
  the customer carries on:
  1. (i)
    a retail business (other than a business that includes the selling of vehicles, vessels, farm machinery or aircraft);
  2. (ii)
    a business declared by the Minister, by notice in writing published in the Gazette, to be an entertainment business or a hospitality business for the purposes of this Act; or
  3. (iii)
    a business of providing vending machines;
5. (e)
  the account is maintained for the purposes of that business; and
6. (f)
  the amount of currency involved in the transaction does not exceed an amount that is reasonably commensurate with the lawful business activities of the customer.
(3)
A significant cash transaction is also eligible for exemption if:
1. (a)
  the transaction is between a financial institution and another person (in this subsection called the customer);
2. (b)
  the customer is, at the time when the transaction takes place, an established customer of the institution;
3. (c)
  the transaction consists of a withdrawal from an account maintained by the customer with the institution;
4. (d)
  the withdrawal is made for pay‑roll purposes;
5. (e)
  the customer regularly withdraws, from that account, currency of a value not less than $10,000 to pay the customer’s staff and employees; and
6. (f)
  the amount of currency involved in the transaction does not exceed an amount that is reasonably commensurate with the lawful business activities of the customer.
(4)
A significant cash transaction to which a financial institution is a party is also eligible for exemption if:
1. (a)
  the other party to the transaction is a public authority; and
2. (b)
  the amount of currency involved in the transaction does not exceed an amount that is reasonably commensurate with the authorised activities of the authority.
(5)
A significant cash transaction is also eligible for exemption if it is declared by the Minister, by notice in writing published in the Gazette, to be eligible for exemption for the purposes of this Act.
(6)
Where:
1. (a)
  a person (in this subsection called the customer) has closed an account with a financial institution (in this subsection called the transferor institution) and transferred the money that stood to the credit of that account to an account held by the person with another financial institution (in this subsection called the transferee institution); and
2. (b)
  a significant cash transaction is conducted through the account held with the transferee institution at a time when the customer is not an established customer of the transferee institution;
the transaction is eligible for exemption if:
1. (c)
  the transaction would, if the customer were an established customer of the transferee institution at that time, be eligible for exemption under another subsection of this section;
2. (d)
  transactions falling within a particular class and conducted through the account held with the transferor institution were exempt transactions immediately before that account was closed; and
3. (e)
  either:
  1. (i)
    the transaction is a transaction that would, had it been conducted through the account held with the transferor institution, have fallen within that class; or
  2. (ii)
    the customer has been a customer of the transferee institution for not less than 3 months immediately preceding that time.

11Financial institution may enter transactions in exemption register

(1)
Where:
1. (a)
  a financial institution is a party to a significant cash transaction;
2. (b)
  the institution believes that the transaction is eligible for exemption in accordance with section 10; and
3. (c)
  if the other party to the transaction is not a financial institution—the other party signs a written statement to the effect that:
  1. (i)
    the party believes that the transaction is eligible for exemption in accordance with section 10; and
  2. (ii)
    the information provided by the party to the institution in relation to the transaction is, to the best of his or her knowledge and belief, true and correct in all material particulars;
the institution may enter the transaction in its exemption register.
(2)
Where:
1. (a)
  a financial institution is a party to a significant cash transaction;
2. (b)
  the institution believes that the transaction is eligible for exemption in accordance with section 10;
3. (c)
  the institution believes that:
  1. (i)
    the other party to the transaction is likely to enter, on a regular basis, into transactions of a similar kind with the institution; and
  2. (ii)
    all cash transactions of that kind are eligible for exemption in accordance with section 10; and
4. (d)
  if the other party to the transaction is not a financial institution—the other party signs a written statement to the effect that:
  1. (i)
    the party believes that the transaction and proposed transactions of that kind are eligible for exemption in accordance with section 10; and
  2. (ii)
    the information provided by the party to the institution in relation to the transaction and in relation to proposed transactions of that kind is, to the best of his or her knowledge and belief, true and correct in all material particulars;
the institution may enter the class of transactions consisting of transactions of that kind, against the name of the other party, in its exemption register.
(2A)
Despite subsections (1) and (2), a financial institution must not enter a designated service transaction, or a class of designated service transactions, in its exemption register after 11 March 2010.
(3)
Where a financial institution has entered a class of transactions in its exemption register against the name of a person, the AUSTRAC CEO may, by written notice to the institution, direct the institution:
1. (a)
  to delete the entry from the exemption register; or
2. (b)
  to amend the entry so that it ceases to apply to transactions of a kind specified in the notice.
(4)
Where the AUSTRAC CEO gives a financial institution a direction under subsection (3), the institution:
1. (a)
  shall forthwith comply with the direction;
2. (b)
  if the direction is given under paragraph (3)(a)—shall not enter in its exemption register, against the name of the person concerned, the same or substantially the same class of transactions, or transactions falling within the same or substantially the same class of transactions, while the direction remains in force; and
3. (c)
  if the direction is given under paragraph (3)(b)—shall not enter in its exemption register, against the name of the person concerned, transactions of the kind, or a class of transactions of the kind, specified in the notice.
(5)
A financial institution that contravenes subsection (4) commits an offence against this subsection punishable, upon conviction, by a fine not exceeding 50 penalty units.
(6)
Subject to subsection (4), a financial institution may, at any time, delete an entry from, or amend an entry in, its exemption register.

12Financial institution to maintain exemption register

(1)
A financial institution shall maintain a register in which the institution enters transactions, and classes of transactions, for the purposes of section 11.
(2)
The register shall be maintained in the approved manner and form.
(3)
The register shall include the prescribed details in relation to each transaction, or class of transactions, that is entered in the register.
(4)
Where:
1. (a)
  a transaction, or class of transactions, is entered in a financial institution’s exemption register;
2. (b)
  the entry contains the prescribed details in relation to the transaction or class of transactions; and
3. (c)
  the entry is not in the approved manner and form;
the fact that the entry is not in the approved manner and form shall be disregarded in determining whether or not the transaction, or any transaction falling within that class, is an exempt transaction.
(5)
In this section:
prescribed details, in relation to a transaction or class of transactions, means the details of the transaction or class of transactions that are referred to in Schedule 2.

13AUSTRAC CEO to have access to exemption registers

(1)
The AUSTRAC CEO may, by written notice to a financial institution, require the institution to give an authorised officer specified in the notice access to its exemption register on the day and during the hours specified in the notice.
(2)
Where the AUSTRAC CEO gives a financial institution notice under subsection (1), the institution shall comply with the notice.
(3)
The hours specified in a notice under subsection (1) shall be during the normal business hours of the financial institution to which the notice is given.
(4)
Where an authorised officer may inspect an exemption register, the officer may also make a copy of, or take extracts from, the register.
(5)
The AUSTRAC CEO may, by written notice to a financial institution, require the institution to give the AUSTRAC CEO, or an authorised officer specified in the notice, a copy of:
1. (a)
  its exemption register; or
2. (b)
  entries in its exemption register falling within the class of entries specified in the notice;
together with any other information relating to the register, or to the entries, that is specified in the notice.
(6)
Where the AUSTRAC CEO gives a financial institution notice under subsection (5), the institution shall comply with the notice within 30 days after receiving the notice.

Division 1AReports about transfers of currency

15Reports in relation to transfer of currency into or out of Australia

(1)
Where:
1. (a)
  a person:
  1. (i)
    transfers Australian currency or foreign currency out of Australia; or
  2. (ii)
    transfers Australian currency or foreign currency into Australia; and
2. (b)
  the amount of currency involved in the transfer is not less than $10,000 in value; and
3. (c)
  a report in respect of the transfer has not been given in accordance with this section;
the person, subject to subsections (2), (3) and (4), commits an offence against this subsection.
(1A)
Strict liability applies to paragraph (1)(c).
Note: For strict liability, see section 6.1 of the Criminal Code.
(1B)
Subsection (1) does not apply if the transfer occurred after the commencement of Division 1 of Part 4 of the Anti‑Money Laundering and Counter‑Terrorism Financing Act 2006.
Note: A defendant bears an evidential burden in relation to the matter in subsection (1B) (see subsection 13.3(3) of the Criminal Code).
(2)
A commercial passenger carrier need not make a report in respect of currency in the possession of the carrier’s passengers.
(3)
A commercial goods carrier need not make a report in respect of currency carried on behalf of another person unless the other person has disclosed to the carrier that the goods include currency.
(4)
An ADI need not make a report in respect of currency transferred, on behalf of the ADI, by a commercial goods carrier.
(5)
Where:
1. (a)
  a person (other than an ADI) receives Australian currency or foreign currency transferred to the person from outside Australia; and
2. (b)
  the amount of currency received is not less than $10,000 in value; and
3. (c)
  a report in respect of the transfer of the currency into Australia has not been made in accordance with subsection (1) before the transfer; and
4. (d)
  a report in respect of the receipt of currency is not given in accordance with this section before the end of the period of 30 days commencing on the day of the receipt of the currency;
the person commits an offence against this subsection.
(5A)
Strict liability applies to paragraphs (5)(c) and (d).
Note: For strict liability, see section 6.1 of the Criminal Code.
(5B)
Subsection (5) does not apply if the currency was transferred after the commencement of Division 1 of Part 4 of the Anti‑Money Laundering and Counter‑Terrorism Financing Act 2006.
Note: A defendant bears an evidential burden in relation to the matter in subsection (5B) (see subsection 13.3(3) of the Criminal Code).
(6)
A person who commits an offence against subsection (1) or (5) is punishable, upon conviction, by imprisonment for 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.
(7)
A report under this section shall:
1. (a)
  be in the approved form;
2. (b)
  contain the reportable details in relation to the matter being reported;
3. (c)
  be signed by the person giving the report; and
4. (d)
  be given to:
  1. (i)
    if the transfer is effected by a person taking the currency out of, or bringing it into, Australia with the person—a customs officer; and
  2. (ii)
    in any other case—the AUSTRAC CEO or a customs officer.
(7A)
A report under this section, other than a report mentioned in paragraph (5)(c) or (d), must be given:
1. (a)
  if subparagraph (7)(d)(i) applies—at the time the currency concerned is brought into, or taken out of, Australia; and
2. (b)
  in any other case—at any time before the transfer takes place.
(7AA)
For the purposes of subsection (7A), if currency is taken out of Australia by a person by consignment of the currency:
1. (a)
  through the post to a place outside Australia; or
2. (b)
  to another person for carriage to a place outside Australia by that other person or by a third person;
the time when the currency is taken out of Australia is the time when it is irrevocably committed by the first‑mentioned person to the Australian Postal Corporation or to the other person, as the case may be.
(7B)
For the purposes of paragraph (7A)(a), the time at which currency is brought into Australia by a person is:
1. (a)
  if the person:
  1. (i)
    transfers the currency into Australia when a passenger on an aircraft or ship; and
  2. (ii)
    after disembarking, goes through an area set apart for customs officers to examine the passports and personal baggage of, and perform other duties in respect of, disembarking passengers and for such passengers to collect personal baggage;
as soon as the person reaches the place in that area at which customs officers examine personal baggage or, if the person does not go to that place, when the person leaves that area; or
1. (b)
  in any other case—the first opportunity after arrival in Australia that the person has to give the report under this section.
(7C)
For the purposes of paragraph (7A)(a), the time at which currency is taken out of Australia by a person is:
1. (a)
  if the person:
  1. (i)
    transfers the currency out of Australia when a passenger on an aircraft or ship; and
  2. (ii)
    before embarking, goes through an area set apart for customs officers to examine the passports of, and perform other duties in respect of, embarking passengers;
when the person is at the place in that area at which customs officers examine passports; or
1. (b)
  in any other case—as soon as the person reaches the customs officer who is to examine the person’s passport in relation to the person leaving Australia or, if there is no such examination, the last opportunity before leaving Australia that the person has to give the report under this section.
(8)
Where a report under this section is given to a customs officer, the officer shall, as soon as practicable after receipt of the report, forward the report to the AUSTRAC CEO.
(8A)
For the purposes of this section, if a person:
1. (a)
  arranges to leave Australia as a passenger on an aircraft or ship; and
2. (b)
  for the purpose of leaving Australia, goes towards an aircraft or ship through an area described in paragraph (7C)(a); and
3. (c)
  either:
  1. (i)
    takes currency into that area; or
  2. (ii)
    has currency in his or her personal baggage; and
4. (d)
  does not give a report about the currency when at the place described in that paragraph;
the person is taken to have transferred the currency out of Australia.
(8B)
Subparagraph (8A)(c)(i) does not apply to an amount of currency if the person:
1. (a)
  informs a customs officer at the place described in paragraph (7C)(a) of an intention to spend that amount before embarking; and
2. (b)
  spends that amount before embarking.
(9)
In this section:
customs officer includes a police officer.
reportable details, in relation to a matter being reported, means the details of the matter that are referred to in Schedule 3.

Division 1BCash transaction reports by solicitors15AReports of significant cash transactions

(1)
Subject to subsections (3A) and (3B), if a significant cash transaction is entered into by or on behalf of a solicitor, a solicitor corporation, or a partnership of solicitors, in the course of practising as a solicitor or solicitors, the solicitor, corporation or partnership must, before the end of the reporting period:
1. (a)
  prepare a report of the transaction; and
2. (b)
  communicate the information in the report to the AUSTRAC CEO.
(2)
The report must:
1. (a)
  be prepared in the approved form; and
2. (b)
  contain the reportable details of the transaction; and
3. (c)
  be signed, or otherwise authenticated in an approved way, by the solicitor, a member of the corporation or a member of the partnership, as the case may be.
(3)
The communication must be made to the AUSTRAC CEO:
1. (a)
  by giving the AUSTRAC CEO a copy of the report; or
2. (b)
  in any other manner and form approved in relation to the solicitor, the solicitor corporation or the partnership or in relation to solicitors generally.
(3A)
Subsection (1) does not impose any obligations on a solicitor, a solicitor corporation, or a partnership of solicitors, in relation to a transaction if:
1. (a)
  the solicitor, corporation or partnership is a reporting entity; and
2. (b)
  the transaction occurred after 11 March 2010; and
3. (c)
  the transaction is a designated service transaction.
(3B)
Subsection (1) does not apply in relation to a transaction if the solicitor, corporation or partnership complies with section 43 of the Anti‑Money Laundering and Counter‑Terrorism Financing Act 2006 in relation to the transaction.
(4)
In this section:
reportable details, in relation to a transaction, means the details of the transaction that are referred to in Schedule 3A.

Division 2Reports of suspect transactions16Reports of suspect transactions

(1)
Subject to subsections (4A) and (4B), where:
1. (a)
  a cash dealer is a party to a transaction; and
2. (b)
  the cash dealer has reasonable grounds to suspect that information that the cash dealer has concerning the transaction:
  1. (i)
    may be relevant to investigation of an evasion, or attempted evasion, of a taxation law; or
  2. (ii)
    may be relevant to investigation of, or prosecution of a person for, an offence against a law of the Commonwealth or of a Territory; or
  3. (iii)
    may be of assistance in the enforcement of the Proceeds of Crime Act 1987 or the regulations made under that Act; or
  4. (iv)
    may be of assistance in the enforcement of the Proceeds of Crime Act 2002 or the regulations made under that Act;
the cash dealer, whether or not required to report the transaction under Division 1 or 3, shall, as soon as practicable after forming that suspicion:
1. (c)
  prepare a report of the transaction; and
2. (d)
  communicate the information contained in the report to the AUSTRAC CEO.
(1A)
Subject to subsections (4A) and (4B), where:
1. (a)
  a cash dealer is a party to a transaction; and
2. (b)
  either:
  1. (i)
    the cash dealer has reasonable grounds to suspect that the transaction is preparatory to the commission of a financing of terrorism offence; or
  2. (ii)
    the cash dealer has reasonable grounds to suspect that information that the cash dealer has concerning the transaction may be relevant to investigation of, or prosecution of a person for, a financing of terrorism offence;
the cash dealer, whether or not required to report the transaction under Division 1 or 3, must, as soon as practicable after forming the suspicion:
1. (c)
  prepare a report of the transaction; and
2. (d)
  communicate the information contained in the report to the AUSTRAC CEO.
(2)
A report under subsection (1) or (1A) shall:
1. (a)
  be prepared in the approved form;
2. (b)
  contain the reportable details of the transaction;
3. (c)
  contain a statement of the grounds on which the cash dealer holds the suspicion referred to in the subsection under which the report is prepared; and
4. (d)
  be signed by the cash dealer.
(3)
A communication under subsection (1) or (1A) shall be made to the AUSTRAC CEO:
1. (a)
  by giving the AUSTRAC CEO a copy of the report; or
2. (b)
  in such other manner and form as is approved by the AUSTRAC CEO, in writing, in relation to the cash dealer or to a class of cash dealers that includes the cash dealer.
(4)
Where a cash dealer communicates information to the AUSTRAC CEO under subsection (1) or (1A), the cash dealer shall, if requested to do so by:
1. (a)
  the AUSTRAC CEO;
2. (b)
  a relevant authority; or
3. (c)
  an investigating officer who is carrying out an investigation arising from, or relating to the matters referred to in, the information contained in the report;
give such further information as is specified in the request to the extent to which the cash dealer has that information.
(4A)
Subsections (1) and (1A) do not impose any obligations on a cash dealer in relation to a transaction if:
1. (a)
  the cash dealer is a reporting entity; and
2. (b)
  the transaction occurs after 11 March 2010; and
3. (c)
  the transaction is a designated service transaction.
(4B)
Subsection (1) or (1A) does not apply in relation to a transaction if the cash dealer complies with section 41 of the Anti‑Money Laundering and Counter‑Terrorism Financing Act 2006 in relation to the transaction.
(5)
An action, suit or proceeding does not lie against:
1. (a)
  a cash dealer; or
2. (b)
  an officer, employee or agent of the cash dealer acting in the course of that person’s employment or agency;
in relation to any action by the cash dealer or person taken:
1. (c)
  under this section; or
2. (d)
  in the mistaken belief that such action was required under this section.
(5A)
Where a cash dealer communicates to the AUSTRAC CEO, under subsection (1) or (1A), information about the cash dealer’s suspicion in relation to a transaction to which the cash dealer is a party, the cash dealer must not disclose to anyone else:
1. (a)
  that the cash dealer has formed the suspicion; or
2. (b)
  that information has been communicated to the AUSTRAC CEO; or
3. (c)
  any other information from which the person to whom the information is disclosed could reasonably be expected to infer that the suspicion had been formed or that the first‑mentioned information had been communicated.
(5AA)
If a cash dealer gives further information pursuant to a request under subsection (4), the cash dealer must not disclose to anyone else:
1. (a)
  that the information has been given; or
2. (b)
  any other information from which the person to whom the information is disclosed could reasonably be expected to infer that the first‑mentioned information had been given.
(5B)
A cash dealer who contravenes subsection (5A) or (5AA) commits an offence punishable, upon conviction, by imprisonment for 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.
(5C)
Neither subsection (5A) nor (5AA) prohibits a cash dealer from communicating or disclosing to any court any information, or matter, referred to in that subsection, but this subsection does not affect the operation of subsection (5D).
(5D)
In any legal proceeding other than a prosecution for an offence against subsection 29(1) or 30(1):
1. (a)
  none of the following is admissible in evidence:
  1. (i)
    a report prepared (whether before or after the commencement of this subsection) under subsection (1) or (1A);
  2. (ii)
    a copy of such a report;
  3. (iii)
    a document purporting to set out information contained in such a report;
  4. (iv)
    a document given (whether before or after the commencement of this subsection) under subsection (4); and
2. (b)
  evidence is not admissible as to:
  1. (i)
    whether or not a report was prepared (whether before or after the commencement of this subsection) under subsection (1) or (1A); or
  2. (ii)
    whether or not a copy of a report prepared under that subsection (whether before or after the commencement of this subsection), or a document purporting to set out information contained in such a report, was given to, or received by, the AUSTRAC CEO (whether before or after the commencement of this subsection); or
  3. (iii)
    whether or not particular information was contained in a report prepared under that subsection (whether before or after the commencement of this subsection); or
  4. (iv)
    whether or not particular information was given under subsection (4) (whether before or after the commencement of this subsection).
(5E)
In subsection (5D):
information includes the formation or existence of a suspicion referred to in subsection (1) or (1A).
(6)
In this section:
financing of terrorism offence means an offence under:
1. (a)
  section 102.6 or Division 103 of the Criminal Code; or
2. (b)
  section 20 or 21 of the Charter of the United Nations Act 1945.
investigating officer means:
1. (a)
  a taxation officer; or
2. (b)
  an AFP member; or
3. (c)
  a customs officer (other than the Comptroller‑General of Customs); or
4. (d)
  a staff member of the NACC (within the meaning of the National Anti‑Corruption Commission Act 2022); or
5. (e)
  an examiner or member of the staff of the ACC.
relevant authority means:
1. (a)
  the Commissioner of the Australian Federal Police; or
2. (aa)
  the National Anti‑Corruption Commissioner; or
3. (b)
  the Chief Executive Officer of the ACC; or
4. (c)
  the Commissioner of Taxation; or
5. (d)
  the Comptroller‑General of Customs.
reportable details, in relation to a transaction, means the details of the transaction that are referred to in Schedule 4.

17Protection for cash dealer etc. where information communicated under section 16

Where a cash dealer, or a person who is an officer, employee or agent of a cash dealer, communicates or gives information under section 16, the cash dealer or person shall be taken, for the purposes of Division 400 of the Criminal Code, not to have been in possession of that information at any time.

Division 3Reports of international funds transfer instructions17BReports of international funds transfer instructions

(1)
If:
1. (a)
  before 12 March 2010, a cash dealer in Australia is:
  1. (i)
    the sender of an international funds transfer instruction transmitted out of Australia; or
  2. (ii)
    the recipient of an international funds transfer instruction transmitted into Australia; and
2. (b)
  at least one of the following applies:
  1. (i)
    the cash dealer is acting on behalf of, or at the request of, another person who is not an ADI;
  2. (ii)
    the cash dealer is not an ADI;
the dealer must, before the reporting time, prepare a report of the instruction.
(1A)
Subsection (1) does not apply in relation to an instruction if the cash dealer complies with section 45 of the Anti‑Money Laundering and Counter‑Terrorism Financing Act 2006 in relation to the instruction.
(2)
The report must be in the approved form and include the prescribed details.
(3)
Subject to subsection (4), the report must be sent to the AUSTRAC CEO in the approved way and form before the reporting time.
(4)
The AUSTRAC CEO may, by notice in the Gazette, declare that subsection (3) does not apply in relation to a cash dealer in relation to a report or a class of report.
(5)
If, because of the operation of subsection (4), subsection (3) does not apply in relation to a report, the cash dealer must retain the report for 7 years.
(6)
For the purposes of this section, if a cash dealer transmits an instruction on behalf of, or at the request of, another person, the cash dealer is taken to be the sender of the instruction.
(7)
For the purposes of this section, if a person, not being a cash dealer, transmits an instruction on behalf of, or at the request of, a cash dealer, the cash dealer is taken to be the sender of the instruction.
(8)
In this section:
reporting time, in relation to an instruction, means:
1. (a)
  if the instruction is transmitted into Australia—14 days after the day that the transmission is received or such later time as is specified in the regulations;
2. (b)
  if the instruction is transmitted out of Australia—14 days after the day that the instruction is transmitted or such later time as is specified in the regulations.

17CADI acting on behalf of another ADI

For the purposes of this Division, if:
(a)
an ADI (the first ADI) is acting on behalf of, or at the request of, another ADI (the second ADI); and
(b)
the second ADI is (whether or not as a result of one or more previous applications of this section) acting on behalf of, or at the request of, a person who is not an ADI;
the first ADI is taken to be acting on behalf of that person.

17DNo cause of action arises from compliance with section 17B

A cause of action does not arise in Australia in relation to action taken by a cash dealer or person:
(a)
under section 17B; or
(b)
in the mistaken belief that such action was required under that section.

17ELegal action not to be taken under a foreign law as a result of cash dealers etc. providing information

An action, suit or proceeding arising under a law of, or of a part of, a foreign country does not lie in Australia against:
(a)
a cash dealer; or
(b)
an officer, employee or agent of a cash dealer acting in the course of that person’s employment or agency;
in relation to any action taken by the cash dealer or person:
(c)
under section 17B; or
(d)
in the mistaken belief that such action was required under that section.

17FCertain foreign judgments not to be recognised or enforced in Australia

(1)
If:
1. (a)
  a foreign court has given a judgment against a person; and
2. (b)
  the judgment was in connection with action taken by the person under section 17B;
the judgment must not be recognised or enforced in Australia.
(2)
In this section:
foreign court means any court or authority of a foreign country or a part of a foreign country.
judgment includes a decree, an order and an injunction.

Division 4Information provided under other law17HInformation provided under another law of the Commonwealth or a law of a State or Territory

For the purposes of this Act, information received by AUSTRAC under another Act or under a law of a State or a Territory is taken to be obtained under this Part.

17JInformation provided to AUSTRAC from a foreign country

For the purposes of this Act, information concerning a specific financial transaction that is received by AUSTRAC as a result of a request to a foreign country or to an agency of a foreign country is taken to have been obtained under this Act.

Part IIIAccounts 20Cash dealers to hold information

(1)
A cash dealer must maintain, in relation to each account, in a way that can be audited:
1. (a)
  any account information obtained by the cash dealer for the purposes of compliance with this Part; and
2. (b)
  any signatory information obtained by the cash dealer for the purposes of compliance with this Part in relation to each signatory to the account.
(2)
Subsection (1) does not apply to information obtained by the cash dealer before the commencement of Part 2 of the Crimes Legislation Amendment Act 1992.

20AIdentification record

(1)
For the purposes of this Act, a cash dealer has an identification record for a signatory to an account if, and only if:
1. (a)
  the cash dealer has an identification reference for the signatory (whether or not the reference was obtained in connection with that account); or
2. (b)
  the cash dealer is an identifying cash dealer and:
  1. (i)
    the cash dealer has carried out, and has a record of, the prescribed verification procedure to identify the signatory; or
  2. (ii)
    the cash dealer has carried out, and has a record of, a verification procedure to identify the signatory, being a procedure approved by the AUSTRAC CEO for the cash dealer;
(whether or not the verification procedure was carried out in connection with that account).
Example: A solicitor administered the estate of a deceased person who held an account with an identifying cash dealer. The cash dealer carried out the prescribed verification procedure to identify the solicitor when the solicitor closed the deceased person’s account.
The solicitor is now administering the estate of another deceased person who also held an account with the cash dealer. If the cash dealer has a record of the verification procedure used to identify the solicitor in relation to the first deceased person’s account, it also has an identification record for the solicitor in relation to the other deceased person’s account.
(2)
A verification procedure that was prescribed for the purposes of subsection 20(8) before the commencement of this section is taken to have been prescribed for the purposes of subparagraph (1)(b)(i).

21Identification references

(1)
An identification reference for a signatory to an account is a written reference by an acceptable referee, signed by the referee and setting out the name to be used by the signatory in relation to the account and stating that:
1. (a)
  the referee has known the signatory for the period specified in the reference;
2. (b)
  during the whole of that period, or for so much of that period as is specified in the reference, the signatory has been commonly known by that name; and
3. (c)
  the referee has examined:
  1. (i)
    a specified primary identification document for the signatory in that name;
  2. (ii)
    a specified secondary identification document for the signatory in that name and a specified primary identification document for the signatory in a former name of the person; or
  3. (iii)
    only a specified secondary identification document for the signatory in that name.
(2)
An identification reference for a person by an acceptable referee shall also set out:
1. (a)
  the name, address and occupation of the referee and the basis on which the referee claims to be an acceptable referee;
2. (b)
  if the reference states that the referee examined a primary identification document for the person in a name different from the name to be used by the person in relation to the account—the explanation that the person gave the referee for the difference in names;
3. (c)
  if the reference states that the referee examined only a secondary identification document for the person—the explanation that the person gave the referee for the failure to produce a primary identification document; and
4. (d)
  the required details of the identification document or documents examined by the referee.
(3)
An identification reference for a person by an acceptable referee shall be signed by the person in the presence of the referee and shall contain a statement by the referee to the effect that the reference was so signed.
(3A)
An acceptable referee, or any other person, must not:
1. (a)
  intentionally make a statement in an identification reference, reckless as to the fact that the statement is false or misleading in a material particular; or
2. (b)
  intentionally omit from an identification reference any matter or thing, reckless as to the fact that without the matter or thing the reference is misleading in a material particular.
Penalty: Imprisonment for 4 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.
(4)
For the purposes of this Act, a failure by a person to produce a primary identification document shall not be taken to be sufficiently explained merely by the assertion that a primary identification document is not presently available to the person if the person could obtain a primary identification document within a reasonable time if the person took reasonable steps to obtain it.
(5)
Nothing in subsection (4) shall be taken to require a person to apply for the issue of a citizenship certificate or a passport.

21AChange of name

(1)
Subject to subsections (1A) and (1B), this section applies to an individual (signatory) who wishes to open, or become a signatory to, an account with an identifying cash dealer in a name by which the signatory intends to be commonly known (new name), being a name:
1. (a)
  which the signatory has adopted by marriage; or
2. (b)
  if the signatory has changed the surname by which the signatory is known to that of the signatory’s spouse or de facto spouse—by which the signatory was known before making that change; or
3. (c)
  which the signatory, being a person who has been the victim of violence or threats of violence, or the dependent child of such a person, has adopted or intends to adopt to ensure his or her personal safety; or
4. (d)
  if the signatory is an Aborigine or Torres Strait Islander—which is a traditional name of the signatory.
(1A)
This section does not apply to an individual who wishes to open an account if the account is opened after the commencement of Division 1 of Part 2 of the Anti‑Money Laundering and Counter‑Terrorism Financing Act 2006 in circumstances that amount to the provision of a designated service.
(1B)
This section does not apply to an individual who wishes to become a signatory to an account with an identifying cash dealer in a name by which the individual intends to be commonly known if:
1. (a)
  the individual wishes to become a signatory to the account in that name after the commencement of Division 1 of Part 2 of the Anti‑Money Laundering and Counter‑Terrorism Financing Act 2006; and
2. (b)
  either:
  1. (i)
    the account is opened after the commencement of Division 1 of Part 2 of the Anti‑Money Laundering and Counter‑Terrorism Financing Act 2006 in circumstances that amount to the provision of a designated service; or
  2. (ii)
    the account was opened before the commencement of that Division in circumstances that would have amounted to the provision of a designated service if all the provisions of Parts 1 and 2 of that Act had been in force at the relevant time.
(2)
If the signatory gives to the identifying cash dealer change of name statements signed by the signatory and by a prescribed person:
1. (a)
  the new name is taken to be a name by which the signatory is commonly known; and
2. (b)
  the statements are taken to constitute an identification reference for the signatory in the new name.
(3)
A person must not:
1. (a)
  intentionally make a statement in a change of name statement, reckless as to the fact that it is false or misleading in a material particular; or
2. (b)
  intentionally omit from a change of name statement any matter or thing, reckless as to the fact that without the matter or thing the change of name statement is misleading in a material particular.
Penalty: Imprisonment for 4 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.
(4)
For the purposes of this section:
change of name statement, in relation to a signatory, means a statement that:
1. (a)
  sets out the name or names by which the signatory has been commonly known; and
2. (b)
  states which paragraph of subsection (1) applies to the signatory; and
3. (c)
  sets out the reasons why this section applies to the signatory; and
4. (d)
  sets out the new name; and
5. (e)
  states that the new name is one by which the signatory will be commonly known.

22Notice to AUSTRAC CEO if no primary identification document examined

(1)
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:
1. (c)
  setting out sufficient details of the account for the account to be identified;
2. (d)
  setting out the name used by the signatory in relation to the account; and
3. (e)
  stating that the identification reference for the signatory was not supported by a primary identification document.
(2)
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.

23Cash dealer to keep documents

(1)
If a cash dealer makes or obtains a record of any information in the course of obtaining account information or signatory information for the purpose of compliance with this Part, the cash dealer must retain the record or a copy of it for 7 years after the day on which the relevant account is closed.
(4)
If any information is part of the account information or signatory information of more than one account with the cash dealer, subsection (1) applies as if the reference to the day on which the account is closed were a reference to the day on which the last of those accounts is closed.
(5)
A cash dealer required to retain documents under subsection (1) shall retain and store them in a way that makes retrieval of the documents reasonably practical.
(6)
Subsection (1) does not limit any other obligation of a cash dealer to retain documents.
(7)
Where a cash dealer is required by law to release a document to which subsection (1) applies before the end of the period referred to in that subsection, the cash dealer shall retain a complete copy of the document until the period has ended or the document is returned, whichever occurs first.
(8)
The cash dealer shall maintain a register of documents released under subsection (7).
Penalty: Imprisonment for 1 year.
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.

23AActive ADI accounts transferred to another ADI – obligations of ADIs in relation to records of information

When section applies
(1)
This section applies to a record of information if:
(a)
the record is in the possession of an ADI (the transferor ADI) in fulfilment of an obligation imposed on the transferor ADI by subsection 23(1) or (7); and
(b)
the record relates wholly or partly to an account (the transferred account) that has been, or is proposed to be, transferred to another ADI (the transferee ADI) under:
(i)
a law of the Commonwealth or of a State or Territory; or
(ii)
an arrangement between the transferor ADI and the transferee ADI.
Transferor ADI to give records to transferee ADI
(2)
The transferor ADI must comply with whichever of the following rules is applicable:
(a)
if the record relates wholly to the transferred account—the transferor ADI must give the record to the transferee ADI within the 120‑day period beginning 30 days before the transfer;
(b)
if the record relates partly to the transferred account and partly to an account that is not so transferred or proposed to be so transferred—the transferor ADI must:
(i)
make a copy of so much of the record as relates to the transferred account; and
(ii)
give the copy to the transferee ADI;
within the 120‑day period beginning 30 days before the transfer.
Offence
(3)
A person who intentionally contravenes subsection (2) commits an offence punishable on conviction by a fine not exceeding 10 penalty units.
Note: The amount of a penalty unit is stated in section 4AA of the Crimes Act 1914. 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.
Transferor ADI released from obligations under section 23
(4)
If the transferor ADI complies with subsection (2) of this section in relation to the record, the transferor ADI does not contravene section 23 in relation to so much of the record as relates to the transferred account.
Obligations of transferee ADI—section 23
(5)
If the transferee ADI is given a document under subsection (2) of this section, section 23 applies to the transferee ADI in relation to the document as if the document were a record made or obtained by the transferee ADI in the course of obtaining account information or signatory information about the transferred account.
Certain records to be treated as identification records in the hands of the transferee ADI
(6)
If the transferee ADI is given a document under subsection (2) of this section, section 20A applies to the transferee ADI in relation to the document as follows:
(a)
if the document (or its original) was covered by paragraph 20A(1)(a)—as if the document were an identification reference for the signatory to the transferred account;
(b)
if the document (or its original) was covered by subparagraph 20A(1)(b)(i)—as if:
(i)
the transferee ADI had carried out the prescribed verification procedure (within the meaning of that subparagraph) to identify the signatory to the transferred account; and
(ii)
the document were a record of that procedure;
(c)
if the document (or its original) was covered by subparagraph 20A(1)(b)(ii)—as if:
(i)
the transferee ADI had carried out a verification procedure to identify the signatory to the transferred account; and
(ii)
the procedure had been approved by the AUSTRAC CEO for the transferee ADI; and
(iii)
the document were a record of that procedure.
Definition
(7)
In this section:
record includes a copy of a record.

23BClosed ADI accounts transferred to another ADI – obligations of ADIs in relation to records of information

When section applies
(1)
This section applies to a record of information if:
(a)
the record is in the possession of an ADI (the transferor ADI) in fulfilment of an obligation imposed on the transferor ADI by subsection 23(1) or (7); and
(b)
the record relates wholly or partly to a closed account; and
(c)
the transferor ADI complies with an obligation imposed on it under subsection 23A(2) in relation to another ADI (the transferee ADI) during the 120‑day period mentioned in that subsection; and
(d)
the transferor ADI and the transferee ADI agree in writing that so much of the record as relates to the closed account should be transferred by the transferor ADI to the transferee ADI during that 120‑day period.
Transferor ADI may give records to transferee ADI
(2)
The transferor ADI may:
(a)
if the record relates wholly to the closed account—give the record to the transferee ADI within that 120‑day period; or
(b)
if the record relates partly to the closed account and partly to some other account (whether active or otherwise):
(i)
make a copy of so much of the record as relates to the closed account; and
(ii)
give the copy to the transferee ADI;
within that 120‑day period.
Transferor ADI released from obligations under section 23
(3)
If the transferor ADI gives a document to the transferee ADI under subsection (2) of this section, the transferor ADI does not contravene section 23 in relation to so much of the document as relates to the closed account.
Obligations of transferee ADI—section 23
(4)
If the transferee ADI is given a document under subsection (2) of this section, section 23 applies to the transferee ADI in relation to the document as if the document were a record made or obtained by the transferee ADI in the course of obtaining account information or signatory information about the closed account.
Certain records to be treated as identification records in the hands of the transferee ADI
(5)
If the transferee ADI is given a document under subsection (2) of this section, section 20A applies to the transferee ADI in relation to the document as follows:
(a)
if the document (or its original) was covered by paragraph 20A(1)(a)—as if the document were an identification reference for the signatory to the closed account;

2. The nature of the transaction
3. The date of the transaction
4. The place where the transaction was conducted by the cash dealer
5. The names of, or other means of identifying, the persons conducting the transaction on behalf of the cash dealer
6. The identity of any other cash dealer known by the person preparing the report to be involved in the transaction
7. Details, so far as known to the person preparing the report, of the identity of:
(a)
each person conducting the transaction other than the persons referred to in item 5; and
(b)
any person on whose behalf the transaction was so conducted;
including;
(c)
the name; and
(d)
the business or residential address; and
(e)
the postal address (if different from the address referred to in paragraph (d)); and
(f)
the occupation or, where appropriate, the business or principal activity;
of the person; and
(g)
the date of birth of each person to whom paragraph (a) applies
8. The methods used to ascertain and verify the details referred to in item 7
9. If a cheque is part of the transaction:
(a)
the name of the drawer of the cheque; and
(b)
the name of the payee of the cheque; and
(c)
the name and branch of the financial institution or foreign financial institution on which the cheque is drawn, and the country in which the branch is located; and
(d)
if the payee of the cheque is not the beneficiary of the amount of the cheque, the name of the beneficiary;
so far as known to the person preparing the report
10. If the purchase or sale of a security forms part of the transaction:
(a)
the name of the payee, the favouree or the beneficiary of the security (if any); and
(b)
the name and branch of the financial institution or foreign financial institution involved in the purchase or sale, and the country in which the branch is located
11. If a transfer of currency, within a financial institution or from a financial institution or foreign financial institution to another financial institution or foreign financial institution, forms part of the transaction:
(a)
the name of the payee, the favouree or the beneficiary of the transfer (if any); and
(b)
the name and branch of the financial institution or foreign financial institution involved in the transfer, and the country in which the branch is located
12. The name, type, and identifying number, of any account known by the person preparing the report to be affected by the transaction
13. The amounts involved in the transaction
14. The beneficiary of those amounts, so far as known to the person preparing the report
15. The currencies involved in the transaction
16. The name of the person preparing the report
17. The title of the office of the person preparing the report.

Endnotes

Endnote 1About the endnotes

The endnotes provide information about this compilation and the compiled law.

The following endnotes are included in every compilation:

Endnote 1—About the endnotes

Endnote 2—Abbreviation key

Endnote 3—Legislation history

Endnote 4—Amendment history

Abbreviation key—Endnote 2

The abbreviation key sets out abbreviations that may be used in the endnotes.

Legislation history and amendment history—Endnotes 3 and 4

Amending laws are annotated in the legislation history and amendment history.

The legislation history in endnote 3 provides information about each law that has amended (or will amend) the compiled law. The information includes commencement details for amending laws and details of any application, saving or transitional provisions that are not included in this compilation.

The amendment history in endnote 4 provides information about amendments at the provision (generally section or equivalent) level. It also includes information about any provision of the compiled law that has been repealed in accordance with a provision of the law.

Editorial changes

The Legislation Act 2003 authorises First Parliamentary Counsel to make editorial and presentational changes to a compiled law in preparing a compilation of the law for registration. The changes must not change the effect of the law. Editorial changes take effect from the compilation registration date.

If the compilation includes editorial changes, the endnotes include a brief outline of the changes in general terms. Full details of any changes can be obtained from the Office of Parliamentary Counsel.

Misdescribed amendments

A misdescribed amendment is an amendment that does not accurately describe how an amendment is to be made. If, despite the misdescription, the amendment can be given effect as intended, then the misdescribed amendment can be incorporated through an editorial change made under section 15V of the Legislation Act 2003.

If a misdescribed amendment cannot be given effect as intended, the amendment is not incorporated and “(md not incorp)” is added to the amendment history.

Endnote 2Abbreviation key

ad = added or inserted	o = order(s)
am = amended	Ord = Ordinance
amdt = amendment	orig = original
c = clause(s)	par = paragraph(s)/subparagraph(s)
C[x] = Compilation No. x	/sub‑subparagraph(s)
Ch = Chapter(s)	pres = present
def = definition(s)	prev = previous
Dict = Dictionary	(prev…) = previously
disallowed = disallowed by Parliament	Pt = Part(s)
Div = Division(s)	r = regulation(s)/rule(s)
ed = editorial change	reloc = relocated
exp = expires/expired or ceases/ceased to have	renum = renumbered
effect	rep = repealed
F = Federal Register of Legislation	rs = repealed and substituted
gaz = gazette	s = section(s)/subsection(s)
LA = Legislation Act 2003	Sch = Schedule(s)
LIA = Legislative Instruments Act 2003	Sdiv = Subdivision(s)
(md) = misdescribed amendment can be given	SLI = Select Legislative Instrument
effect	SR = Statutory Rules
(md not incorp) = misdescribed amendment	Sub‑Ch = Sub‑Chapter(s)
cannot be given effect	SubPt = Subpart(s)
mod = modified/modification	underlining = whole or part not
No. = Number(s)	commenced or to be commenced

Endnote 3Legislation history

Act	Number and year	Assent	Commencement	Application, saving and transitional provisions
Cash Transaction Reports Act 1988	64, 1988	15 June 1988	ss. 1 and 2: Royal Assent ss. 3–6, 24, Parts IV, V, VI and VII (ss. 25–43): 1 July 1988 (Gazette 1988, No. S192) ss. 7–15: 1 July 1990 (Gazette 1989, No. S359) ss. 16 and 17: 1 Jan 1990 (Gazette 1989, No. S359) Remainder: 1 Feb 1991 (Gazette 1990, No. S288)
Crimes Legislation Amendment Act (No. 2) 1989	4, 1990	17 Jan 1990	ss. 1, 2, 36–38, 46, 47, 50(2), 51–53 and Part 4 (ss. 54, 55): Royal Assent ss. 20–22: 30 June 1990 (s. 2(2)) ss. 39 and 48: 1 July 1990 (s. 2(3)) ss. 40(1) and 50(1): 1 July 1990 (s. 2(5) and Gazette 1990, No. S158) s. 40(2): 1 July 1990 (s. 2(7) and Gazette 1989, No. S359) ss. 41–45 and 49: 1 Feb 1991 (s. 2(8)–(12) and Gazette 1990, No. S288) Remainder: 17 July 1990	—
Corporations Legislation Amendment Act 1990	110, 1990	18 Dec 1990	ss. 8, 9(1) and Parts 4–6 (ss. 10–20): 1 Jan 1991 (Gazette 1990, No. S335) s. 9(2): 8 Apr 1991 (Gazette 1991, No. S79) Remainder: Royal Assent	—
Crimes Legislation Amendment Act 1991	28, 1991	4 Mar 1991	s 21 and 22: 4 Mar 1991 (s 2(1)) s 23: 29 Apr 1991 (s 2(2) and gaz 1991, No S108)	—
Industrial Relations Legislation Amendment Act 1991	122, 1991	27 June 1991	ss. 4(1), 10(b) and 15–20: 1 Dec 1988 ss. 28(b)–(e), 30 and 31: 10 Dec 1991 (Gazette 1991, No. S332) Remainder: Royal Assent	s. 31(2)
Crimes Legislation Amendment Act (No. 2) 1991	123, 1991	23 Aug 1991	ss. 5–34 and 38–50: 20 Sept 1991 ss. 35–37: 6 Dec 1991 (Gazette 1991, No. S330) s. 51: 23 Feb 1992 (s. 2(5)) Remainder: Royal Assent	—
Cash Transaction Reports Amendment Act 1991	188, 1991	6 Dec 1991	ss. 1–3 and 7: Royal Assent Remainder: 6 Dec 1992 (Gazette 1992, No. GN25)	ss. 14 and 15
Crimes Legislation Amendment Act 1992	164, 1992	11 Dec 1992	s 4–17: 1 Feb 1993 (s 2(2) and gaz 1993, No GN1)	s 17
as amended by
Statute Law Revision Act 1996	43, 1996	25 Oct 1996	Sch 3 (items 11, 12): 11 Dec 1992 (s 2(3))	—
Banking (State Bank of South Australia and Other Matters) Act 1994	69, 1994	9 June 1994	s 63 and 65: 9 June 1994 (s 2(1))	s 63
Law and Justice Legislation Amendment Act 1994	84, 1994	23 June 1994	s 45 and 47: 1 July 1994 (s 2(6) and gaz 1994, No S242)	s 45
Royal Commission into the New South Wales Police Service (Access to Information) Act 1994	170, 1994	16 Dec 1994	16 Dec 1994	—
Crimes and Other Legislation Amendment Act 1994	182, 1994	19 Dec 1994	Sch: 16 Jan 1995 (s 2(4))	—
Mutual Assistance in Criminal Matters Legislation Amendment Act 1996	40, 1996	9 Oct 1996	ss. 1–3: Royal Assent Remainder: 1 Mar 1997 (Gazette 1997, No. S50)	—
Financial Transaction Reports Amendment Act 1997	33, 1997	17 Apr 1997	15 May 1997	Sch. 1 (item 76)
Retirement Savings Accounts (Consequential Amendments) Act 1997	62, 1997	28 May 1997	Sch 19: 2 June 1997 (s 2)	—
as amended by
Crimes Legislation Enhancement Act 2003	41, 2003	3 June 2003	Sch 2 (item 17): 28 May 1997 (s 2(1) item 11)	—
Telecommunications (Interception) and Listening Device Amendment Act 1997	160, 1997	11 Nov 1997	Sch 4: 11 Nov 1997 (s 2(1))	—
Financial Sector Reform (Consequential Amendments) Act 1998	48, 1998	29 June 1998	Sch 1 (items 64–81): 1 July 1998 (s 2(2))	—
as amended by
Financial Sector Reform (Amendments and Transitional Provisions) Act (No. 1) 1999	44, 1999	17 June 1999	Sch 6 (item 18): 1 July 1998 (s 3(9))	—
Financial Sector Reform (Amendments and Transitional Provisions) Act 1998	54, 1998	29 June 1998	Sch 18 (item 47): 1 July 1998 (s 2(2)(p))	—
Financial Sector Reform (Amendments and Transitional Provisions) Act (No. 1) 1999	44, 1999	17 June 1999	Sch7 (items 46–49): 1 July 1999 (s 3(2)(e), (16) and gaz 1999, No S283) Sch 8 (items 22, 23): 17 June 1999 (s 3(1))	Sch 8 (items 22, 23)
as amended by
Financial Sector Legislation Amendment Act (No. 1) 2000	160, 2000	21 Dec 2000	Sch 4 (item 4): 18 Jan 2001 (s 2(1))	—
Superannuation (Unclaimed Money and Lost Members) Consequential and Transitional Act 1999	128, 1999	13 Oct 1999	Sch 1 (items 1, 2): 13 Oct 1999 (s 2(1), (2))	—
Public Employment (Consequential and Transitional) Amendment Act 1999	146, 1999	11 Nov 1999	Sch 1 (items 482–485): 5 Dec 1999 (s 2(1), (2))	—
Corporate Law Economic Reform Program Act 1999	156, 1999	24 Nov 1999	Sch 12 (items 1, 25): 24 Nov 2000 (s 2(4))	—
Australian Security Intelligence Organisation Legislation Amendment Act 1999	161, 1999	10 Dec 1999	Sch 4: 10 Dec 1999 (s 2(1))	—
Law and Justice Legislation Amendment (Application of Criminal Code) Act 2001	24, 2001	6 Apr 2001	s 4(1), (2) and Sch 29: 24 May 2001 (s 2(1)(a))	s 4(1) and (2)
Corporations (Repeals, Consequentials and Transitionals) Act 2001	55, 2001	28 June 2001	s 4–14 and Sch 3 (items 195–198): 15 July 2001 (s 2(1), (3))	s 4–14
General Insurance Reform Act 2001	119, 2001	19 Sept 2001	Sch 3 (item 12): 1 July 2002 (s 2(2))	—
Financial Services Reform (Consequential Provisions) Act 2001	123, 2001	27 Sept 2001	Sch 1 (items 232–236): 11 Mar 2002 (s 2(1), (6))	—
National Crime Authority Legislation Amendment Act 2001	135, 2001	1 Oct 2001	Schedules 1–7, 9–12: 12 Oct 2001 (Gazette 2001, No. S428) Schedule 8: 13 Oct 2001 (Gazette 2001, No. S428) Remainder: Royal Assent	—
Measures to Combat Serious and Organised Crime Act 2001	136, 2001	1 Oct 2001	Sch 6: 29 Oct 2001 (s 2(5))	—
Royal Commissions and Other Legislation Amendment Act 2001	166, 2001	1 Oct 2001	1 Oct 2001	—
Statute Law Revision Act 2002	63, 2002	3 July 2002	Schedule 1 (item 19): Royal Assent	—
Suppression of the Financing of Terrorism Act 2002	66, 2002	5 July 2002	Schedule 2: Royal Assent	Sch. 2 (items 9B, 21)
Proceeds of Crime (Consequential Amendments and Transitional Provisions) Act 2002	86, 2002	11 Oct 2002	ss. 1–3: Royal Assent Remainder: 1 Jan 2003 (s. 2(1) and Gazette 2002, No. GN44)	—
Australian Crime Commission Establishment Act 2002	125, 2002	10 Dec 2002	Schedule 2 (items 41–76, 226): 1 Jan 2003	Sch. 2 (item 226)
Crimes Legislation Amendment (People Smuggling, Firearms Trafficking and Other Measures) Act 2002	141, 2002	19 Dec 2002	Schedules 1, 2 and Schedule 3 (items 1–22, 24–26): 16 Jan 2003 Schedule 3 (item 23): 1 Jan 2003 (s. 2(1) (item 4) and Gazette 2002, No. GN44) Remainder: Royal Assent	—
Telecommunications Interception and Other Legislation Amendment Act 2003	113, 2003	12 Nov 2003	Schedule 1: 6 Feb 2004 (Gazette 2004, No. S27) Remainder: Royal Assent	—
Family and Community Services and Veterans’ Affairs Legislation Amendment (2003 Budget and Other Measures) Act 2003	122, 2003	5 Dec 2003	Schedule 2 (items 4–13): Royal Assent	Sch. 2 (item 13)
Statute Law Revision Act 2005	100, 2005	6 July 2005	Schedule 1 (items 15–20): Royal Assent	—
Law and Justice Legislation Amendment (Serious Drug Offences and Other Measures) Act 2005	129, 2005	8 Nov 2005	Schedule 6: Royal Assent	—
Law and Justice Legislation Amendment (Video Link Evidence and Other Measures) Act 2005	136, 2005	15 Nov 2005	16 Nov 2005	—
Anti‑Terrorism Act (No. 2) 2005	144, 2005	14 Dec 2005	s 4 and Sch 9 (items 3, 4, 7): 14 Dec 2005 (s 2(1) items 1, 9, 12) Sch 3 (item 4): 15 Dec 2005 (s 2(1) item 6) Sch 9 (items 1, 2, 5, 6, 8–21): never commenced (s 2(1) items 8, 10, 11, 13–19)	s 4
as amended by
Anti‑Money Laundering and Counter‑Terrorism Financing (Transitional Provisions and Consequential Amendments) Act 2006	170, 2006	12 Dec 2006	Sch 1 (items 2–11): 14 Dec 2005 (s 2(1) item 3)	—
Law Enforcement Integrity Commissioner (Consequential Amendments) Act 2006	86, 2006	30 June 2006	Schedule 1 (items 33–40): 30 Dec 2006 (s. 2(1))	—
Financial Transaction Reports Amendment Act 2006	134, 2006	9 Nov 2006	Sch 1: never commenced (s 2(1) item 2)
as amended by
Anti‑Money Laundering and Counter‑Terrorism Financing (Transitional Provisions and Consequential Amendments) Act 2006	170, 2006	12 Dec 2006	Sch 1 (item 147): 9 Nov 2006 (s 2(1) item 21)	—
Anti‑Money Laundering and Counter‑Terrorism Financing (Transitional Provisions and Consequential Amendments) Act 2006	170, 2006	12 Dec 2006	Sch 1 (items 40–57, 59–78, 80–89, 93–112, 114–119, 121, 123, 125–128, 131–146, 159–165): 13 Dec 2006 (s. 2(1) items 4, 6, 8, 10, 12, 14, 16, 18, 20, 24) Sch 1 (items 58, 79, 90–92, 113, 120, 122, 124, 129, 130): never commenced (s 2(1) items 5, 7, 9, 11, 13, 15, 17, 19)	Sch 1 (items 159–165)
as amended by
Anti‑Money Laundering and Counter‑Terrorism Financing Amendment Act 2007	52, 2007	12 Apr 2007	Sch 1 (item 53): 13 Apr 2007 (s 2(1) item 6)	—
Australian Citizenship (Transitionals and Consequentials) Act 2007	21, 2007	15 Mar 2007	Schedules 1–3: 1 July 2007 (s. 2(1) and F2007L01653) Remainder: Royal Assent	—
Private Health Insurance (Transitional Provisions and Consequential Amendments) Act 2007	32, 2007	30 Mar 2007	Schedule 2 (item 11): 1 Apr 2007 (s. 2(1))	—
Anti‑Money Laundering and Counter‑Terrorism Financing Amendment Act 2007	52, 2007	12 Apr 2007	Sch 1 (items 57A, 59–61): 13 Dec 2006 (s 2(1) items 6A, 7) Sch 1 (item 58): 13 Apr 2007 (s 2(1) item 6B)	—
Financial Transaction Reports Amendment (Transitional Arrangements) Act 2008	124, 2008	25 Nov 2008	25 Nov 2008	—
Tax Laws Amendment (2009 Measures No. 1) Act 2009	27, 2009	26 Mar 2009	Schedule 2 (item 42): 27 Mar 2009	—
Customs Amendment (Enhanced Border Controls and Other Measures) Act 2009	34, 2009	22 May 2009	Schedule 10 (items 3, 4): 19 June 2009	Sch. 10 (item 4)
Tax Laws Amendment (2009 Budget Measures No. 2) Act 2009	133, 2009	14 Dec 2009	Schedule 3 (items 27, 44, 45): Royal Assent	Sch. 3 (items 44, 45)
Combating the Financing of People Smuggling and Other Measures Act 2011	60, 2011	28 June 2011	Schedule 4: Royal Assent	—
Business Names Registration (Transitional and Consequential Provisions) Act 2011	127, 2011	3 Nov 2011	Sch 2 (items 22, 23): 20 Apr 2012 (s 2(1))	Act No 172, 2011 (Sch 1 (item 5))
Australian Charities and Not‑for‑profits Commission (Consequential and Transitional) Act 2012	169, 2012	3 Dec 2012	Sch 2 (item 186): 3 Dec 2012 (s 2(1))	—
Statute Law Revision Act (No. 1) 2015	5, 2015	25 Feb 2015	Sch 3 (items 83–87): 25 Mar 2015 (s 2(1) item 10)	—
Crimes Legislation Amendment (Psychoactive Substances and Other Measures) Act 2015	12, 2015	5 Mar 2015	Sch 6 (items 9–15): 6 Mar 2015 (s 2(1) item 7)	—
Customs and Other Legislation Amendment (Australian Border Force) Act 2015	41, 2015	20 May 2015	Sch 6 (items 72–76) and Sch 9: 1 July 2015 (s 2(1) items 2, 7)	Sch 6 (item 76) and Sch 9
as amended by
Australian Border Force Amendment (Protected Information) Act 2017	115, 2017	30 Oct 2017	Sch 1 (item 26): 1 July 2015 (s 2(1) item 2)	—
Norfolk Island Legislation Amendment Act 2015	59, 2015	26 May 2015	Sch 2 (items 159, 160): 1 July 2016 (s 2(1) item 5) Sch 2 (items 356–396): 18 June 2015 (s 2(1) item 6)	Sch 2 (items 356–396)
as amended by
Territories Legislation Amendment Act 2016	33, 2016	23 Mar 2016	Sch 2: 24 Mar 2016 (s 2(1) item 2)	—
Statute Law Revision Act (No. 1) 2016	4, 2016	11 Feb 2016	Sch 4 (items 1, 171–173, 388): 10 Mar 2016 (s 2(1) item 6)	—
Statute Update Act 2016	61, 2016	23 Sept 2016	Sch 1 (item 246): 21 Oct 2016 (s 2(1) item 1)	—
Marriage Amendment (Definition and Religious Freedoms) Act 2017	129, 2017	8 Dec 2017	Sch 3 (item 22) and Sch 4: 9 Dec 2017 (s 2(1) item 7)	Sch 4
as amended by
Federal Circuit and Family Court of Australia (Consequential Amendments and Transitional Provisions) Act 2021	13, 2021	1 Mar 2021	Sch 2 (item 540): 1 Sept 2021 (s 2(1) item 5)	—
Anti‑Money Laundering and Counter‑Terrorism Financing Amendment Act 2017	130, 2017	13 Dec 2017	Sch 1 (items 56, 57): 3 Apr 2018 (s 2(1) item 1)	—
National Anti‑Corruption Commission (Consequential and Transitional Provisions) Act 2022	89, 2022	12 Dec 2022	Sch 1 (items 112–116) and Sch 2 (items 1, 25): 1 July 2023 (s 2(1) items 2, 3)	Sch 2 (items 1, 25)
Treasury Laws Amendment (2023 Law Improvement Package No. 1) Act 2023	76, 2023	20 Sept 2023	Sch 2 (items 644–646): 20 Oct 2023 (s 2(1) item 2)	—

Number and year	Registration	Commencement	Application, saving and transitional provisions
1990 No. 36	27 Feb 1990	27 Feb 1990	—
as amended by
1990 No. 162	29 June 1990	1 July 1990	—
1992 No. 423	24 Dec 1992	r 15 and 16: 1 Feb 1993	—
1997 No. 63	26 Mar 1997	1 Apr 1997	—
2001 No. 64	12 Apr 2001	12 Apr 2001	—

Endnote 4Amendment history

Provision affected	How affected
Title.......................................	am No. 188, 1991; No. 170, 2006
Part I
s 1.........................................	am No. 188, 1991
s 3.........................................	am No 4, 1990; No 110, 1990; No 188, 1991; No 164, 1992; No 170, 1994; No 33, 1997; No 62, 1997; No 160, 1997; No 48, 1998; No 44, 1999; No 146, 1999; No 156, 1999; No 55, 2001; No 119, 2001; No 123, 2001; No 136, 2001; No 166, 2001; No 86, 2002; No 125, 2002; No 141, 2002; No 122, 2003; No 144, 2005; No 86, 2006; No 170, 2006; No 21, 2007; No 32, 2007; No 52, 2007; No 127, 2011; No 169, 2012; No 12, 2015; No 41, 2015; No 130, 2017
ed C51
am No 89, 2022; No 76, 2023
s 3A.......................................	ad No. 144, 2005
s 5.........................................	am No 33, 1997; No 59, 2015
s 6A.......................................	ad No. 24, 2001
Part II
Division 1
Division 1 heading..................	rs No. 33, 1997
s 7.........................................	am No. 164, 1992; No. 33, 1997; No. 170, 2006; No. 52, 2007; No. 124, 2008
s 8.........................................	am No. 170, 2006
s 8A.......................................	ad No. 4, 1990
am No. 164, 1992; No. 33, 1997; No. 170, 2006
s 9.........................................	am No. 123, 2001; No. 170, 2006; No 76, 2023
s 11........................................	am No. 170, 2006; No. 124, 2008; No 4, 2016; No 61, 2016
s 13........................................	am No. 170, 2006
s 14........................................	rep No. 33, 1997
s 14A.....................................	ad No. 4, 1990
am No. 164, 1992
rep No. 33, 1997
Division 1A
Division 1A heading................	ad No. 33, 1997
s 15........................................	am No. 4, 1990; No. 188, 1991; No. 182, 1994; No. 33, 1997; No. 48, 1998; No. 136, 2001; No. 170, 2006
Division 1B
Division 1B............................	ad No. 33, 1997
s 15A.....................................	ad No. 33, 1997
am No. 170, 2006; No. 124, 2008
Division 2
s 16........................................	am No 28, 1991; No 123. 1991; No 188, 1991; No 33, 1997; No 24, 2001; No 135, 2001; No 66, 2002; No 125, 2002; No 100, 2005; No 136, 2005; No 144, 2005; No 86, 2006; No 170, 2006; No 124, 2008; No 41, 2015; No 4, 2016; No 89, 2022

s 17........................................	am No. 141, 2002
s 17A.....................................	ad No. 123, 1991
rep No. 33, 1997
Division 3
Division 3..............................	ad No. 188, 1991
s 17B.....................................	ad No. 188, 1991
am No. 48, 1998; No. 170, 2006; No. 124, 2008
s 17C.....................................	ad No. 188, 1991
rs No. 48, 1998
ss 17D–17F............................	ad No. 188, 1991
s 17G.....................................	ad No. 188, 1991
rep No. 33, 1997
Division 4
Division 4..............................	ad No. 164, 1992
s 17H.....................................	ad No. 164, 1992
s 17J......................................	ad No. 136, 2001
Part III
s 18........................................	am No. 4, 1990; No. 164, 1992; No. 33, 1997; No. 62, 1997 (as am. by No. 41, 2003); No. 128, 1999; No. 24, 2001; No. 170, 2006; Nos. 27 and 133, 2009
rep No 12, 2015
s 19........................................	am No. 4, 1990; No. 188, 1991; No. 164, 1992; No. 170, 2006
rep No 12, 2015
s 20........................................	am No. 4, 1990
rs No. 164, 1992
am No. 170, 2006; No 12, 2015
s 20A.....................................	ad No. 164, 1992
am No. 129, 2005; No. 170, 2006
s 21........................................	am No. 4, 1990; No. 33, 1997; No. 24, 2001
s 21A.....................................	ad No 164, 1992
am No 33, 1997; No 24, 2001; No 170, 2006; No 129, 2017
s 22........................................	am No. 164, 1992; No. 33, 1997; No. 170, 2006; No 4, 2016
s 23........................................	am No. 4, 1990; No. 123, 1991; No. 164, 1992; No. 33, 1997; No. 170, 2006
s 23A.....................................	ad No. 69, 1994
am No. 33, 1997; No. 48, 1998; No. 24, 2001; No. 170, 2006; No 4, 2016
s 23B.....................................	ad No. 69, 1994
am No. 48, 1998; No. 170, 2006
s 24........................................	am Nos. 33 and 62, 1997; No 48, 1998; No. 123, 2001; No. 170, 2006; No 4, 2016
Part IIIA
Part IIIA.................................	ad No. 33, 1997
s 24A.....................................	ad No. 33, 1997
ss 24B–24D............................	ad No. 33, 1997
am No. 170, 2006
Part IV...................................	rep No. 170, 2006
s 25........................................	am No. 4, 1990; No. 188, 1991; No. 33, 1997
rep No. 170, 2006
s 26........................................	am No. 28, 1991; No. 33, 1997; No. 135, 2001; No. 125, 2002
rep No. 170, 2006
s 27........................................	am No. 4, 1990; Nos. 28, 123 and 188, 1991; No. 170, 1994; No. 40, 1996; Nos. 33 and 160, 1997; No. 54, 1998; Nos. 55, 135, 136 and 166, 2001; Nos. 63, 66 and 125, 2002; Nos. 113 and 122, 2003; No. 100, 2005
rep No. 170, 2006
s 27AA..................................	ad No. 161, 1999
am No. 66, 2002
rep No. 170, 2006
Part IVA
Part IVA................................	ad No. 33, 1997
s 27A.....................................	ad No. 33, 1997
am No. 170, 2006
s 27B.....................................	ad No. 33, 1997
am No. 24, 2001; No. 170, 2006; No 4, 2016
s 27C.....................................	ad No. 33, 1997
am No. 136, 2001; No. 170, 2006
ss 27D, 27E............................	ad No. 33, 1997
am No. 170, 2006
Part V
s 28........................................	am No. 4, 1990; Nos. 123 and 188, 1991; No. 182, 1994; No. 33, 1997; No. 170, 2006; No. 52, 2007
s 29........................................	am No. 4, 1990; No. 164, 1992; No. 33, 1997; No. 24, 2001; No. 170, 2006; No. 52, 2007; No 12, 2015
s 30........................................	am No. 33, 1997; No. 24, 2001; No. 170, 2006; No. 52, 2007
s 31........................................	am No. 33, 1997
s 32........................................	am No. 170, 2006
s 33........................................	am No. 4, 1990; No. 123, 1991; No. 33, 1997; No. 24, 2001; No. 170, 2006
s 33A.....................................	ad No. 4, 1990
am No 33, 1997; No 34, 2009; No 4, 2016
s 34........................................	am No. 33, 1997; No 5, 2015
Part VI
s 35........................................	am No. 188, 1991
rep No. 170, 2006
s 36........................................	am Nos. 122 and 188, 1991
rep No. 170, 2006
s 36A.....................................	ad No. 122, 1991
rep No. 170, 2006
s 36B.....................................	ad No. 122, 1991
am No. 146, 1999
rep No. 170, 2006
s 37........................................	am No. 188, 1991
rep No. 170, 2006
s 38........................................	am Nos. 123 and 188, 1991; No. 164, 1992; No. 170, 2006
s 39........................................	am No. 188, 1991
rs No. 33, 1997
rep No. 170, 2006
s 40........................................	am No. 188, 1991; No. 84, 1994; No. 146, 1999
rep No. 170, 2006
s 40A.....................................	ad No. 4, 1990
am No. 188, 1991
rep No. 170, 2006
s 40B.....................................	ad No. 123, 1991
am No. 188, 1991
rep No. 170, 2006
Part VIA
Part VIA................................	ad No. 86, 2002
Division 1
ss 40C, 40D............................	ad No. 86, 2002
am No. 170, 2006
s 40E.....................................	ad No. 86, 2002
Division 2
s 40F......................................	ad No 86, 2002
am No 4, 2016
s 40G.....................................	ad No 86, 2002
am No 4, 2016
s 40H.....................................	ad No 86, 2002
am No 4, 2016
s 40J......................................	ad No. 86, 2002
am No 4, 2016
Division 3
s 40K.....................................	ad No 86, 2002
am No 4, 2016
s 40L.....................................	ad No 86, 2002
s 40M....................................	ad No 86, 2002
Division 4
s 40N.....................................	ad No. 86, 2002
ss 40P, 40Q............................	ad No. 86, 2002
Division 5
s 40R.....................................	ad No 86, 2002
am No 4, 2016
s 40S......................................	ad No 86, 2002
Part VII
s 41A.....................................	ad No. 60, 2011
s 42........................................	am No. 188, 1991; No. 170, 2006; No 12, 2015
s 42A.....................................	ad No. 4, 1990
am No. 33, 1997
Schedule 1
Schedule 1..............................	am Statutory Rules 1990 No. 162; Statutory Rules 1997 No. 63; No. 170, 2006
Schedule 2
Schedule 2..............................	am Statutory Rules 1990 No. 162
Schedule 3
Schedule 3..............................	am Statutory Rules 1990 No. 162; Statutory Rules 1992 No. 423
Schedule 3A
Schedule 3A...........................	ad No. 33, 1997
Schedule 4
Schedule 4..............................	am Statutory Rules 1990 No. 36; Statutory Rules 1992 No. 423; Statutory Rules 2001 No. 64