Document ID: chunk:federal_register_of_legislation:C2006C00754:clause:9_17fb:p1
Version: federal_register_of_legislation:C2006C00754
Segment Type: clause
Provision Reference: sch 9 cl 17FB (pt 1/2)
Character Range: 212852–215722

17FB  Customer information in international funds transfer instructions transmitted into Australia

Application

 (1) This section applies if:
 (a) a cash dealer in Australia is the recipient of two or more international funds transfer instructions transmitted into Australia by a particular ordering organisation; and
 (b) at least one of the international funds transfer instructions does not include customer information relating to the instruction.

Direction to cash dealer

 (2) The Director may direct, in writing, the cash dealer to request the ordering organisation to include, in all future international funds transfer instructions the ordering organisation transmits to the cash dealer, customer information relating to the instructions. The direction must state that the cash dealer must comply with the direction within 14 days after the date of the direction.

Offence

 (3) A person commits an offence if:
 (a) the person is given a direction under subsection (2); and
 (b) the person fails to comply with the direction within 14 days after the date of the direction.

Penalty: Imprisonment for 2 years.

Note: Subsection 4B(2) of the Crimes Act 1914 allows a court to impose in respect of an offence an appropriate fine instead of, or in addition to, a term of imprisonment. If a body corporate is convicted of an offence, subsection 4B(3) of that Act allows a court to impose a fine of an amount that is not greater than 5 times the maximum fine that could be imposed by the court on an individual convicted of the same offence.

Report by cash dealer

 (4) The cash dealer must report, in writing, to the Director on the ordering organisation's response, or lack of response, to the cash dealer's request within:
 (a) 28 days after the date of the direction; or
 (b) such further time as is allowed by the Director.

Note: Failure to report to the Director is an offence (see paragraph 28(1)(a)).

 (5) To avoid doubt, a cash dealer may make available funds received from an international funds transfer instruction even if the instruction transmitted to the cash dealer did not include customer information relating to the instruction.

Definitions

 (6) In this section:

customer information, in relation to an international funds transfer instruction transmitted into Australia, means the following information about the ordering customer on whose behalf, or at whose request, an ordering organisation sends the instruction:
 (a) the ordering customer's name;
 (b) any one of the following:
 (i) the ordering customer's full business or residential address (not being a post office box);
 (ii) the ordering customer's date and place of birth;
 (iii) a unique identification number given to the ordering customer by a foreign government;
 (iv) the identification number given to the ordering customer by the ordering organisation;
 (c) either: