FINANCIAL TRANSACTION REPORTS ACT 1988

PART V - ENFORCEMENT  

SECTION 30   INCOMPLETE INFORMATION  

30(1)   [Incomplete information by cash dealer]  

A cash dealer commits an offence against this section if the dealer, in communicating information to the AUSTRAC CEO in relation to a transaction as required under Part II , knows that the information is incomplete in relation to the transaction.

30(2)   [Incomplete information by financial institution]  

A financial institution commits an offence against this section if the institution, in maintaining the institution ' s exemption register as required under Division 1 of Part II , knows that the register is incomplete.

30(3)   [Offence]  

A person commits an offence against this section if the person, in communicating information to the AUSTRAC CEO in relation to a transaction as required under section 15A , knows that the information is incomplete in relation to the transaction.

30(4)   [Penalty]  

A person who commits an offence against this section is punishable, upon conviction, by a fine of not more than 10 penalty units.

Note:

If a body corporate is convicted of an offence, subsection 4B(3) of the Crimes Act 1914 allows a court to impose a fine 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. The amount of a penalty unit is stated in section 4AA of that Act.




This information is provided by CCH Australia Limited Link opens in new window. View the disclaimer and notice of copyright.