FINANCIAL TRANSACTION REPORTS ACT 1988

PART IVA - POWERS OF INSPECTION  

SECTION 27C   POWERS OF INSPECTION OF PREMISES OF A CASH DEALER  

27C(1)   [Access]  

This section applies if an authorised officer is given access to business premises of a cash dealer in compliance with a notice under section 27E .

27C(2)   [Compliance]  

For the purpose of monitoring a cash dealer ' s compliance with sections 7 , 16 and 17B , the officer may inspect:


(a) any records kept at, or accessible from, the premises that relate to the dealer ' s obligations under those sections; and


(b) any system used by the dealer at the premises for keeping those records; and


(c) any reports retained at, or accessible from, the premises under those sections; and


(d) any system used by the dealer in connection with:


(i) preparing reports under those sections; or

(ii) sending such reports to the AUSTRAC CEO; or

(iii) retaining such reports.

27C(2A)   [Monitoring compliance]  

For the purpose of monitoring the compliance of a cash dealer who is an approved cash carrier with the record-keeping obligations referred to in section 8 , the officer may inspect:


(a) records containing reportable details (within the meaning of that section) of significant cash transactions to which the cash dealer is a party that are kept at, or accessible from, the premises; and


(b) any system used by the dealer at those premises for keeping such records.

27C(3)   [Inspection of records]  

For the purpose of monitoring a cash dealer ' s compliance with section 20 and any undertaking given under section 8A , the officer may inspect:


(a) records of account information and signatory information kept at, or accessible from, the premises; and


(b) any system used by the dealer at those premises for keeping such records.

27C(4)   [Bullion seller ' s records]  

For the purpose of monitoring compliance, by a cash dealer who is a bullion seller, with sections 24C and 24D , the officer may inspect:


(a) records of information compiled or obtained in the course of obtaining an identification record for a party to a bullion transaction, being records kept at, or accessible from, the premises; and


(b) any system used by the bullion seller at the premises for keeping such records.

27C(5)   [Copies/extracts]  

An authorised officer who is empowered under this section to inspect records or reports of a cash dealer may also receive or make copies of, or take extracts from, those records or reports.




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