Commonwealth Consolidated Acts

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

Scope

  (1)   This section applies if a person has information or a document that may assist the AUSTRAC CEO with:

  (a)   obtaining or analysing information to support efforts to combat money laundering, terrorism financing, proliferation financing or other serious crimes; or

  (b)   identifying trends, patterns, threats or vulnerabilities associated with money laundering, terrorism financing, proliferation financing or other serious crimes;

for the purposes of the performance of functions of the AUSTRAC CEO.

Authorisation

  (2)   The AUSTRAC CEO may, by written notice given to the person, authorise the person:

  (a)   to give to the AUSTRAC CEO any such information; or

  (b)   to produce to the AUSTRAC CEO any such documents.

Content of notice

  (3)   A notice under subsection   (2) must set out the effect of the following provisions:

  (a)   subsection   (5);

  (b)   section   136;

  (c)   section   137.

Note 1:   Section   136 is about giving false or misleading information.

Note 2:   Section   137 is about producing false or misleading documents.

Information disclosure etc.

  (4)   A person may give information or produce a document to the AUSTRAC CEO in accordance with a notice under subsection   (2).

Note:   This subsection constitutes an authorisation for the purposes of the Privacy Act 1988 and other laws.

  (5)   This section applies despite any general law obligation of confidence.