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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 of the Principal Act is amended:

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

    (b) by omitting from subsection (1) "CTR" and substituting "FTR";

    (c) by omitting from subsection (2) the definition of "CTR information" and substituting the following definition:

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

Transitional—CTR information to be FTR information

22. 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.

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 SCHEDULE Section 13

AMENDMENTS RELATING TO CHANGING THE NAME OF THE CASH TRANSACTION REPORTS AGENCY TO THE AUSTRALIAN TRANSACTION REPORTS AND ANALYSIS CENTRE (AUSTRAC)

Subsection 3(1) (definition of "authorised officer"):

Omit "the Agency", substitute "AUSTRAC".

Subsection 3(1) (definition of "Director"):

Omit "the Cash Transaction Reports Agency", substitute "AUSTRAC".

Subsection 3(1) (definitions of "Agency" and "CTR information"):

Omit the definitions.

Subsection 19(4):

Omit "the Agency", substitute "AUSTRAC".

Paragraph 25(1)(b):

Omit "the Agency", substitute "AUSTRAC".

Section 27:

Omit "CTR" (wherever occurring), substitute "FTR".

Section 36:

Omit "the Agency", substitute "AUSTRAC".

Section 37:

Omit "the Agency" (wherever occurring), substitute "AUSTRAC".

Section 38:

Omit "CTR" (wherever occurring), substitute "FTR".

Subsection 39(1):

Omit "the Agency", substitute "AUSTRAC".

Section 40:

Omit "the Agency", substitute "AUSTRAC".

Subsection 40A(1):

Omit "the Agency"; substitute "AUSTRAC".

SCHEDULE—continued

Section 40B:

Omit "the Agency's", substitute "AUSTRAC's".

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NOTES

  1. No. 64, 1988, as amended. For previous amendments, see Nos. 4 and 110, 1990; and Nos. 28, 122 and 123, 1991.

  2. No. 90, 1989, as amended. For previous amendments, see Nos. 41 and 110, 1990; and Nos. 110 and 122, 1991.

  3. No. 85, 1987, as amended. For previous amendments, see Nos. 66 and 120, 1988; and No. 123, 1991.

NOTES ABOUT SECTION HEADINGS

  1. On the commencement of this Act, the heading to section 27 of the Cash Transaction Reports Act 1988 is altered by omitting "CTR" and substituting "FTR".

  2. On the commencement of this Act, the heading to section 35 of the Cash Transaction Reports Act 1988 is altered by omitting "Agency" and substituting "AUSTRAC".

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[Minister's second reading speech made in—
    House of Representatives on 15 October 1991
    Senate on 7 November 1991]