Commonwealth Consolidated Acts

ANTI-MONEY LAUNDERING AND COUNTER-TERRORISM FINANCING ACT 2006 - SECT 49

  (1)   If a reporting entity communicates information to the AUSTRAC CEO under section   41, 43 or 45, then:

  (a)   the AUSTRAC CEO; or

  (b)   the Commissioner of the Australian Federal Police; or

  (c)   the Chief Executive Officer of the Australian Crime Commission; or

  (d)   the Commissioner of Taxation; or

  (e)   the Comptroller - General of Customs; or

  (f)   the National Anti - Corruption Commissioner; or

  (g)   an investigating officer who is carrying out an investigation arising from, or relating to the matters mentioned in, the information;

may, by written notice given to the reporting entity or any other person, require the reporting entity or other person:

  (h)   to give such further information as is specified in the notice, within the period and in the manner specified in the notice, to the extent to which the reporting entity or other person has that information; or

  (i)   to produce, within the period and in the manner specified in the notice, such documents as are:

  (i)   specified in the notice; and

  (ii)   relevant to the matter to which the communication under section   41, 43 or 45 relates; and

  (iii)   in the possession or control of the reporting entity or other person.

  (1A)   A person (the issuer ) must not give a notice under subsection   (1) to another person (the recipient ) unless the issuer reasonably believes that the recipient has knowledge of the information, or possession or control of the document, that is specified in the notice.

  (1B)   The period specified in the notice for giving the information or document must be at least 14 days after the notice is given unless:

  (a)   the recipient is the reporting entity who communicated information to the AUSTRAC CEO under section   41, 43 or 45; or

  (b)   both of the following apply:

  (i)   the issuer considers that specifying a shorter period is necessary;

  (ii)   the shorter period specified is reasonable in the circumstances.

Compliance

  (2)   A person must comply with a notice under subsection   (1).

Civil penalty

  (3)   Subsection   (2) is a civil penalty provision.