Document ID: chunk:federal_register_of_legislation:C2004A03935:body:0:p67
Version: federal_register_of_legislation:C2004A03935
Segment Type: other
Provision Reference: 
Character Range: 162316–165166

a signatory to the account if the cash dealer has verified the identity of the signatory under subsection (8) in respect of another account with the cash dealer.";

(c) by adding at the end the following subsections:

    "(7) A statement in relation to an account with an identifying cash dealer need not be accompanied by an identification reference under paragraph (2) (b) or (3) (b).

    "(8) Subject to subsection (9), where a statement of the kind mentioned in subsection (7) is not accompanied by an identification reference for a signatory to the account concerned, the cash dealer must carry out the prescribed verification procedure for the purpose of identifying the signatory.

    "(9) Where a statement of the kind mentioned in subsection (7) is not accompanied by an identification reference for a signatory to the account concerned but an identification reference for that signatory is subsequently given to the cash dealer, the cash dealer need not carry out, or continue to carry out, the verification procedure mentioned in subsection (8).".

Identification references

44. Section 21 of the Principal Act is amended:

   (a) by omitting from subsection (1) "statutory declaration by an acceptable referee" and substituting "written reference by an acceptable referee, signed by the referee and";

   (b) by omitting from paragraphs (1) (a) and (b) "declaration" and substituting "reference";

   (c) by omitting from subsection (3) "a declaration by the referee to the effect that the statement" and substituting "a statement by the referee to the effect that the reference";

   (d) by inserting after subsection (3) the following subsection:

"(3a) An acceptable referee, or any other person, must not, knowingly or recklessly:

       (a) make a statement in an identification reference that is false or misleading in a material particular; or

       (b) omit from an identification reference any matter or thing without which the reference is misleading in a material particular.

Penalty: $10,000 or imprisonment for 4 years, or both.".

Cash dealer to keep documents

45. Section 23 of the Principal Act is amended:

(a) by inserting after subsection (1) the following subsection:

   "(1a) Where a cash dealer makes or obtains a record of any information in the course of carrying out a verification procedure under subsection 20 (8), the cash dealer must retain the record for the period of 7 years after the day on which the relevant account is closed.";

(b) by omitting from paragraph (2) (b) "or";

(c) by inserting after paragraph (2) (b) the following paragraph:

       "(ba) if the cash dealer does not hold an identification reference for the person at the time when the record is made and the cash dealer (whether before or after that time) carries out a verification procedure in relation to the person under