Document ID: chunk:federal_register_of_legislation:C2020A00133:clause:1_53
Version: federal_register_of_legislation:C2020A00133
Segment Type: clause
Provision Reference: sch 1 cl 53
Character Range: 62200–64168

53  Reports about movements of monetary instruments into or out of Australia

Offence
 (1) A person commits an offence if:
 (a) either:
 (i) the person moves one or more monetary instruments into Australia; or
 (ii) the person moves one or more monetary instruments out of Australia; and
 (b) the sum of the monetary instrument amounts is $10,000 or more; and
 (c) a report in respect of the movement is not given in accordance with this section.
Penalty: Imprisonment for 2 years or 500 penalty units, or both.

Civil penalty
 (2) A person must not:
 (a) move one or more monetary instruments into Australia; or
 (b) move one or more monetary instruments out of Australia;
if:
 (c) the sum of the monetary instrument amounts is $10,000 or more; and
 (d) a report in respect of the movement is not given in accordance with this section.
 (3) Subsection (2) is a civil penalty provision.

Commercial carriers
 (4) Subsections (1) and (2) do not apply to a person if:
 (a) the person is a commercial passenger carrier; and
 (b) the monetary instruments are in the possession of any of the carrier's passengers.
 (5) Subsections (1) and (2) do not apply to a person if:
 (a) the person is a commercial goods carrier; and
 (b) the monetary instruments are carried on behalf of another person.
 (6) A person who wishes to rely on subsection (4) or (5) bears an evidential burden in relation to that matter.

Requirements for reports under this section
 (7) A report under this section must:
 (a) be in the approved form; and
 (b) contain the information specified in the AML/CTF Rules; and
 (c) be given to the AUSTRAC CEO, a customs officer or a police officer; and
 (d) comply with the applicable timing rule in the AML/CTF Rules.
Note 1: For additional rules about reports, see section 244.
Note 2: Division 8 of Part 15 sets out special enforcement powers relating to this section.
Note 3: See also section 18 (translation of foreign currency to Australian currency).