Document ID: chunk:federal_register_of_legislation:C2004A03935:body:0:p66
Version: federal_register_of_legislation:C2004A03935
Segment Type: other
Provision Reference: 
Character Range: 159699–162554

cash dealer;

   and the verification statement specifies that other account in sufficient detail for the other account to be identified.";

(d) by omitting subsection (5) and substituting the following subsections:

   "(5) Where an account becomes blocked under subsection (2), the cash dealer commits an offence against this subsection at the end of the day after the infringement day unless it has given the Director written notice stating:

(a) the reasons why the account became blocked; and

      (b) the name and address of the unverified signatory and sufficient details of the account for the account to be identified.

   "(5a) Where an account becomes blocked under subsection (2a), the cash dealer commits an offence against this subsection at the end of 14 days after the infringement day unless:

      (a) the account was previously blocked under subsection (2) and it had given the Director a written notice under subsection (5); or

      (b) in any other case—it has given the Director a written notice stating the matters mentioned in paragraphs (5) (a) and (b)";

(e) by inserting in paragraph (7) (a) "or (5a)" after "(5)";

(f) by omitting paragraph (7) (b) and substituting the following paragraph:

       "(b) after the notice is given or sent by the cash dealer the account becomes unblocked because the unverified signatory gives the cash dealer a verification statement or an identification reference, or the cash dealer verifies the identity of the signatory under subsection 20 (8);";

   (g) by omitting from subsection (7) "statement has been given" and substituting "account has become unblocked for the reason specified in the notice";

   (h) by inserting in subsection (9) "(5a)" after "(5),";

   (j) by adding at the end of paragraph (10) (a) "or";

   (k) by adding at the end of subsection (10) the following word and paragraph: .

"or; (d) a period instead of the period specified in subsection (5a).".

Unblocking or forfeiture of account

42. Section 19 of the Principal Act is amended by omitting paragraph (2) (b) and substituting the following paragraph:

    "(b) the unverified signatory has given a verification statement or identification reference and the account should not, as a result, be blocked; or".

Form of statement

43. Section 20 of the Principal Act is amended:

(a) by omitting from subsections (2) and (3) "subsection (4)" and substituting "this section";

(b) by inserting after subsection (4) the following subsection:

    "(4a) A statement in relation to an account with a cash dealer need not be accompanied by an identification reference for 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