Document ID: chunk:federal_register_of_legislation:C2025C00044:section:123:p4
Version: federal_register_of_legislation:C2025C00044
Segment Type: section
Provision Reference: s 123 (pt 4/5)
Character Range: 336113–338903

that may be disclosed to the related person under this subsection; and
 (ii) controlling the use that will be made of the information; and
 (iii) ensuring that the information will be used only for the purpose for which it is disclosed to the related person; and
 (f) the disclosure is made for the purpose of informing the related person about the risks involved in dealing with the relevant person.
Note: A defendant bears an evidential burden in relation to the matter in subsection (7AB) (see subsection 13.3(3) of the Criminal Code).
 (7AC) A reporting entity to whom information has been disclosed under subsection (7AB) must not disclose the information unless:
 (a) the disclosure is made to another reporting entity that belongs to the designated business group; and
 (b) the disclosure is made for the purpose of informing the other reporting entity about the risks involved in dealing with the relevant person.

Exception—remittance sector
 (7A) Subsection (1) does not apply to the disclosure of information by a reporting entity if:
 (a) the reporting entity is a registered remittance affiliate of a registered remittance network provider and the disclosure is made to the registered remittance network provider; or
 (b) the reporting entity is a registered remittance network provider and the disclosure is made to a registered remittance affiliate of the registered remittance network provider.
 (7B) A reporting entity to whom information has been disclosed under subsection (7A) must not disclose the information to another person.

Exception—ADI
 (8) Subsection (1) does not apply to the disclosure of information by a reporting entity if:
 (a) the reporting entity is an ADI; and
 (b) the disclosure is to an owner‑managed branch of the ADI.
 (8A) A person to whom information has been disclosed under subsection (8) must not disclose the information to another person.

Exception—compliance with the law or law enforcement
 (9) Subsection (1) does not apply to the disclosure of information by a reporting entity if:
 (a) the disclosure is in compliance with a requirement under a law of the Commonwealth, a State or a Territory; or
 (b) the disclosure is to an Australian government body that has responsibility for law enforcement.
Note: A defendant bears an evidential burden in relation to the matter in subsection (9) (see subsection 13.3(3) of the Criminal Code).

Courts or tribunals
 (10) Except where it is necessary to do so for the purposes of giving effect to this Act or the repealed Financial Transaction Reports Act 1988, a person is not to be required to disclose to a court or tribunal information mentioned in subsection (1), (2) or (2A).

Offence
 (11) A person commits an offence if:
 (a) the person is subject to a requirement under subsection (1),