CASH TRANSACTION REPORTS REGULATIONS (AMENDMENT) 1992 NO. 90 CASH TRANSACTION REPORTS REGULATIONS (AMENDMENT) 1992 NO. 90 - TABLE OF PROVISIONS 1. Commencement 2. Amendment 3. Regulation 2 (Interpretation) 4. Regulation 3 (The verification procedure) 5. Regulation 4 (Verification generally) 6. Regulation 5 (Verification: public authorities and incorporated bodies) 7. Regulation 8 (Verification: non-residents) 8. Regulation 11b (Matters prescribed for the purposes of section 18 of the Act) 1992 No. 90 CASH TRANSACTION REPORTS REGULATIONS (AMENDMENT) - REG 1 1. Commencement 1.1 These Regulations commence on 4 May 1992. 1992 No. 90 CASH TRANSACTION REPORTS REGULATIONS (AMENDMENT) - REG 2 2. Amendment 2.1 The Cash Transaction Reports Regulations are amended as set out in these Regulations. 1992 No. 90 CASH TRANSACTION REPORTS REGULATIONS (AMENDMENT) - REG 3 3. Regulation 2 (Interpretation) 3.1 Subregulation 2 (1) (definition of 'public company'): Omit the definition. 3.2 Subregulation 2 (1) (definition of 'Telecom'): Omit the definition, substitute: "'Telecom' has the same meaning as in the Australian and Overseas Telecommunications Corporation Act 1991;'. 3.3 Subregulation 2 (1): After the definition of 'higher education institution', insert: "'incorporated body' means: (a) a public company within the meaning of the Corporations Law; or (b) a body corporate that is a subsidiary of a public company within the meaning of sections 46 to 49 (inclusive) of the Corporations Law; or (c) a proprietary company within the meaning of the Law in which one or more shares is owned by a public company within the meaning of the Corporations Law; or (d) a bank; or (e) a building society; or (f) a credit union; or (g) a society established under a law in force in a State or Territory providing for the establishment of mutual societies or friendly societies; or (h) a proprietary company within the meaning of the Corporations Law, or an incorporated association: (i) that has traded for a continuous period of 2 years; or (ii) that has maintained an account with a financial institution for a continuous period of 2 years; or (i) a body established or incorporated for a public purpose;'. 3.3 Subregulation 2 (2): Omit the subregulation. 1992 No. 90 CASH TRANSACTION REPORTS REGULATIONS (AMENDMENT) - REG 4 4. Regulation 3 (The verification procedure) 4.1 Subregulation 3 (5): Omit 'Corporations Act 1989', substitute 'Corporations Law'. 1992 No. 90 CASH TRANSACTION REPORTS REGULATIONS (AMENDMENT) - REG 5 5. Regulation 4 (Verification generally) 5.1 Subregulation 4 (1): After paragraph (h), insert: '(i) if the identifying cash dealer is a financial body-it verifies that the signatory has been a signatory of an account with the body for at least 36 months immediately before the verification (verification by this means is worth 100 points); and'. 1992 No. 90 CASH TRANSACTION REPORTS REGULATIONS (AMENDMENT) - REG 6 6. Regulation 5 (Verification: public authorities and incorporated bodies) 6.1 Omit 'a body established or incorporated for a public purpose or public company' (wherever occurring), substitute 'incorporated body'. 6.2 Omit 'or company' (wherever occurring). 6.3 Subregulation 5 (1): Omit ', body', substitute 'or body'. 1992 No. 90 CASH TRANSACTION REPORTS REGULATIONS (AMENDMENT) - REG 7 7. Regulation 8 (Verification: non-residents) 7.1 Subregulation 8 (1): Omit 'Corporations Act 1989', substitute 'Corporations Law'. 1992 No. 90 CASH TRANSACTION REPORTS REGULATIONS (AMENDMENT) - REG 8 8. Regulation 11b (Matters prescribed for the purposes of section 18 of the Act) 8.1 Add at the end: '(3) For the purposes of subsection 18 (8) of the Act, the following particulars are prescribed: (a) the date on which the account became blocked; (b) the account holder's name and address; (c) if it is known to the cash dealer-the account holder's occupation, business or principal activity; (d) the type and identification number of the account; (e) the unverified signatory's name; (f) if it is known to the cash dealer-the unverified signatory's address; (g) the name of each other signatory (if any); (h) if it is known to the cash dealer-the address of each other signatory (if any); (i) the cash dealer's name and address; (j) the nature of the cash dealer's business; (k) the identifying number of the branch where the account is held; (l) the signature of the cash dealer, or an authorised officer of the dealer; (m) the name, title, telephone number and facsimile number of the cash dealer or person who signed on behalf of the cash dealer; (n) the total funds deposited in the account on and after the latest of the following dates: (i) 1 February 1991; (ii) the date the account was opened; (iii) the date of the last notice under subsection 18 (8) of the Act relating to the account; (o) the total amount of cash deposited in the account since the latest of the dates referred to in paragraph (n); (p) the date of the last transaction on the account; (q) the reasons why the account was blocked, including statements indicating: (i) whether the credit balance of the account has exceeded $1,000; (ii) whether the total credits to the account over a period of 30 consecutive days exceeded $2,000; (r) the reason why the account remains blocked.'. - NOTES 1992 No. 90*1* CASH TRANSACTION REPORTS REGULATIONS*2* (AMENDMENT) *1* Notified in the Commonwealth of Australia Gazette on 14 April 1992. *2* Statutory Rules 1990 No. 36 as amended by 1990 Nos. 162, 340 and 341; 1991 Nos. 7, 89 and 166.