Document ID: chunk:federal_register_of_legislation:C2004A04263:body:0:p5
Version: federal_register_of_legislation:C2004A04263
Segment Type: other
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Character Range: 10011–13061

to the Director; or

         (iii) retaining such reports.

"(5) Where an authorised officer may inspect records or reports of a cash dealer, the officer may also make copies of, or take extracts from, those records or reports.".

Failure to provide information

10. Section 28 of the Principal Act is amended:

    (a) by omitting from paragraph (1)(b) "or 17A(1)." and substituting ", 17A(1) or 17G(1); or";

    (b) by adding at the end of subsection (1) the following paragraph:

         "(c) fails to retain reports as required under subsection 17B(5).".

Establishment of AUSTRAC

11. Section 35 of the Principal Act is amended:

    (a) by omitting from subsection (1) "Cash Transaction Reports Agency" and substituting "Australian Transaction Reports and Analysis Centre";

    (b) by omitting from subsection (2) "The Agency" and substituting "AUSTRAC".

Administrative Decisions (Judicial Review) Act 1977 not to apply to decisions under this Act

12. Section 42 of the Principal Act is amended by inserting "17B(4) or" after "subsection".

Amendments relating to changing the name of the Cash Transaction Reports Agency to the Australian Transaction Reports and Analysis Centre (AUSTRAC)

13. The Principal Act is amended as set out in the Schedule.

Application of amendments

14. The amendments made by sections 6, 8, 9, 10 and 12 apply in relation to instructions transmitted from, or received in, Australia after the commencement of this section.

Transitional—CTR information to be FTR information

15. For the purposes of the Principal Act as amended by this Act, information that was CTR information immediately before the commencement of this section is taken to be FTR information.

PART 3—CONSEQUENTIAL AMENDMENTS OF THE AUSTRALIAN SECURITIES COMMISSION ACT 1989

Principal Act

16. In this Part, "Principal Act" means the Australian Securities Commission Act 19892.

Financial transaction reports

17. Section 243D of the Principal Act is amended:

    (a) by omitting "Cash Transaction Reports Act" (wherever occurring) and substituting "Financial Transaction Reports Act";

    (b) by omitting from paragraph (1)(d) "Cash Transaction Reports Agency" and substituting "Australian Transaction Reports and Analysis Centre";

    (c) by omitting from subsection (7) "entent" and substituting "extent".

PART 4—CONSEQUENTIAL AMENDMENTS OF THE MUTUAL ASSISTANCE IN CRIMINAL MATTERS ACT 1987

Principal Act

18. In this Part, "Principal Act" means the Mutual Assistance in Criminal Matters Act 19873.

Application of Act

19. Section 7 of the Principal Act is amended:

    (a) by omitting from subsection (2A) "CTR" and substituting "FTR";

    (b) by omitting from subsection (4) the definition of "CTR information" and substituting the following definition:

    " 'FTR information' has the same meaning as in the Financial Transaction Reports Act 1988".

Heading to Part VIA

20. The heading to Part VIA of the Principal Act is amended by omitting "CTR" and substituting "FTR".

Requests for FTR information

21. Section 37a