#### 40L Compliant transferor ADIs released from retention obligations Sections 40F to 40J do not apply to the transferor ADI, in relation to the document, if it gave the original and all copies of the document to the transferee ADI within the 120‑day period beginning 30 days before the transfer of the account. > Note: A defendant bears an evidential burden in relation to the defence in this section (see subsection 13.3(3) of the Criminal Code).

Previous section40KTransferor ADI must give documents to transferee ADI Next section40MRetention obligations of transferee ADIs

Section 40L - Financial Transaction Reports Act 1988 - Compliant transferor ADIs released from retention obligations — Zoe