243DFinancial transaction reports

#### 243D Financial transaction reports (1) If: (a) a cash dealer within the meaning of the Financial Transaction Reports Act 1988 is a party to a transaction; and (b) the cash dealer has reasonable grounds to suspect that information that the cash dealer has concerning the transaction may be relevant to investigation of, or prosecution of a person for, an offence against this Law or the Corporations Law; the cash dealer must, as soon as practicable after forming that suspicion: (c) prepare a report of the transaction; and (d) communicate the information contained in the report to the Director of the Australian Transaction Reports and Analysis Centre. (2) The report must: (a) be prepared in the approved form; and (b) contain the reportable details of the transaction; and (c) contain a statement of the grounds on which the cash dealer holds the suspicion referred to in subsection (1); and (d) be signed by the cash dealer. (3) The communication must be made to the Director: (a) by giving the Director a copy of the report; or (b) in such other manner and form as is approved by the Director, in writing, in relation to the cash dealer or to a class of cash dealers that includes the cash dealer. (4) Where a cash dealer communicates information to the Director under subsection (1), the cash dealer must, if requested to do so by: (a) the Director; or (b) a relevant authority; or (c) an investigating officer who is carrying out an investigation arising from, or relating to the matters referred to in, the information contained in the report; give such further information as is specified in the request to the extent to which the cash dealer has that information. (5) An action, suit or proceeding does not lie against: (a) a cash dealer; or (b) an officer, employee or agent of the cash dealer acting in the course of that person’s employment or agency; in relation to any action taken by the cash dealer or person pursuant to this section. (5A) If a cash dealer communicates to the Director, under subsection (1), information about the cash dealer’s suspicion in relation to a transaction to which the cash dealer is a party, the cash dealer must not, unless required to do so under the ASIC Law, the Corporations Law or an Act of the Commonwealth, disclose to anyone else: (a) that the cash dealer has formed the suspicion; or (b) that information has been communicated to the Director; or (c) any other information from which the person to whom the information is disclosed could reasonably be expected to infer that: (i) the suspicion had been formed; or (ii) the first‑mentioned information had been communicated. (5B) If a cash dealer gives further information pursuant to a request under subsection (4), the cash dealer must not, unless required to do so under the ASIC Law or an Act of the Commonwealth, disclose to anyone else: (a) that the information has been given; or (b) any other information from which the person to whom the information is disclosed could reasonably be expected to infer that the first‑mentioned information had been given. (5C) A cash dealer who contravenes subsection (5A) or (5B) is guilty of an offence punishable, upon conviction, by: (a) a fine of not more than 120 penalty units or imprisonment for not more than 2 years, or both, if the cash dealer is a natural person; or (b) a fine of not more than 600 penalty units if the cash dealer is a body corporate. (5D) Neither subsection (5A) nor subsection (5B) prohibits a cash dealer from communicating or disclosing a fact or information referred to in either of those subsections: (a) to the Australian Stock Exchange Limited; or (b) to the Commission; or (c) to a body corporate approved under section 769 of the Corporations Law as a stock exchange; or (d) to a body corporate approved under section 770 of the Corporations Law as an approved securities organisation; or (e) in accordance with conditions imposed by the Minister when approving under section 770A of the Corporations Law a stock market for electronic trading of interests in a registered scheme; or (f) in accordance with conditions imposed by the Minister when declaring a specified stock market to be an exempt stock market under section 771 of the Corporations Law; or (g) to a body corporate approved under section 779B of the Corporations Law as a securities clearing house; or (h) to a body corporate approved under section 1126 of the Corporations Law as a futures exchange; or (i) in accordance with conditions imposed by the Minister when declaring a specified futures market to be an exempt futures market under section 1127 of the Corporations Law; or (j) to a body corporate approved under section 1131 of the Corporations Law as a clearing house for a futures exchange; or (k) to a body corporate approved under section 1132 of the Corporations Law as a futures association. (5E) Neither subsection (5A) nor subsection (5B) prohibits a cash dealer from communicating or disclosing to any court any information, or matter, referred to in that subsection, but this subsection does not affect the operation of subsection (5F). (5F) In any legal proceeding (other than a prosecution for an offence against subsection 29(1) or 30(1) of the Financial Transaction Reports Act 1988 (which relate to false and misleading information or incomplete information) as applied by subsection (7) of this section): (a) none of the following is admissible in evidence: (i) a report prepared (whether before or after the commencement of this subsection) under subsection (1); (ii) a copy of such a report; (iii) a document purporting to set out information contained in such a report; (iv) a document given under subsection (4); and (b) evidence is not admissible as to: (i) whether or not a report was prepared under subsection (1); or (ii) whether or not a copy of a report prepared under that subsection, or a document purporting to set out information contained in such a report, was given to, or received by, the Director; or (iii) whether or not particular information was contained in a report prepared under that subsection; or (iv) whether or not particular information was given under subsection (4). (5G) In subsection (5F): > information includes the formation or existence of a suspicion referred to in subsection (1). (6) Where a cash dealer, or a person who is an officer, employee or agent of a cash dealer, communicates or gives information under this section, the cash dealer or person is taken, for the purposes of sections 81 and 82 of the Proceeds of Crime Act 1987, not to have been in possession of that information at any time. (7) The Financial Transaction Reports Act 1988 (other than sections 16 and 17) applies as a law of this jurisdiction, to the extent that it makes provision in connection with, or for the purposes of, the operation of sections 16 and 17 of that Act, as if, in that Act: (a) references to section 16 were references to this section (other than subsection (6) and this subsection); and (b) references to section 17 were references to subsection (6) of this section; and (c) references to Part II included references to sections 16 and 17. (8) In this section: > approved means approved by the Director, in writing, for the purposes of this section. > investigating officer, relevant authority and reportable details have the same meanings as in section 16 of the Financial Transaction Reports Act 1988.