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Cash Transaction Reports Regulations (Amendment)

Authoritative Version
  • - F1996B00924
  • No longer in force
SR 1992 No. 90 Regulations as made
These Regulations amend the Cash Transaction Reports Regulations.
Administered by: Attorney-General's
General Comments: This instrument was backcaptured in accordance with Section 36 of the Legislative Instruments Act 2003
Registered 01 Jan 2005
Tabling HistoryDate
Tabled HR28-Apr-1992
Tabled Senate28-Apr-1992
Gazetted 14 Apr 1992
Date of repeal 09 Apr 2013
Repealed by Attorney-General's (Spent and Redundant Instruments) Repeal Regulation 2013

 

 

 

 

 

 

 

Statutory  Rules  1992   No. 901

__________________

 

 

Cash Transaction Reports Regulations 2 (Amendment)

 

 

I, THE GOVERNOR-GENERAL of the Commonwealth of Australia, acting with the advice of the Federal Executive Council, make the following Regulations under the Cash Transaction Reports Act 1988.

 

          Dated 7 April 1992.

 

                                                                                         BILL HAYDEN

                                                                                        Governor-General

          By His Excellency’s Command,

 

 

 

MICHAEL DUFFY

Attorney-General

____________

 

1.   Commencement

1.1   These Regulations commence on 4 May 1992.

 

 

2.   Amendment

2.1   The Cash Transaction Reports Regulations are amended as set out in these Regulations.

 


 

3.   Regulation 2 (Interpretation)

3.1   Subregulation 2 (1) (definition of “public company”):

Omit the definition.

 

3.2   Subregulation 2 (1) (definition of “Telecom”):

Omit the definition, substitute:

‘Telecom’ has the same meaning as in the Australian and Overseas Telecommunications Corporation Act 1991;”.

 

3.3   Subregulation 2 (1):

After the definition of “higher education institution”, insert:

‘incorporated body’ means:

               (a)  a public company within the meaning of the Corporations Law; or

               (b)  a body corporate that is a subsidiary of a public company within the meaning of sections 46 to 49 (inclusive) of the Corporations Law; or

               (c)  a proprietary company within the meaning of the Law in which one or more shares is owned by a public company within the meaning of the Corporations Law; or

              (d)  a bank; or

               (e)  a building society; or

               (f)  a credit union; or

               (g)  a society established under a law in force in a State or Territory providing for the establishment of mutual societies or friendly societies; or

               (h)  a proprietary company within the meaning of the Corporations Law, or an incorporated association:

                           (i)  that has traded for a continuous period of 2 years; or

                          (ii)  that has maintained an account with a financial institution for a continuous period of 2 years; or

                (i)  a body established or incorporated for a public purpose;”.

 

3.3   Subregulation 2 (2):

Omit the subregulation.

 


 

4.   Regulation 3 (The verification procedure)

4.1   Subregulation 3 (5):

Omit “Corporations Act 1989”, substitute “Corporations Law”.

 

 

5.   Regulation 4 (Verification generally)

5.1   Subregulation 4 (1):

After paragraph (h), insert:

              “(i)  if the identifying cash dealer is a financial body—it verifies that the signatory has been a signatory of an account with the body for at least 36 months immediately before the verification (verification by this means is worth 100 points); and”.

 

 

6.   Regulation 5 (Verification: public authorities and incorporated bodies)

6.1   Omit “a body established or incorporated for a public purpose or public company” (wherever occurring), substitute “incorporated body”.

 

6.2   Omit “or company” (wherever occurring).

 

6.3   Subregulation 5 (1):

Omit “, body”, substitute “or body”.

 

 

7.   Regulation 8 (Verification: non-residents)

7.1   Subregulation 8 (1):

Omit “Corporations Act 1989”, substitute “Corporations Law”.

 

 

8   Regulation 11b (Matters prescribed for the purposes of section 18 of the Act)

8.1   Add at the end:

             “(3)  For the purposes of subsection 18 (8) of the Act, the following particulars are prescribed:

               (a)  the date on which the account became blocked;

               (b)  the account holder’s name and address;

               (c)  if it is known to the cash dealer—the account holder’s occupation, business or principal activity;


              (d)  the type and identification number of the account;

               (e)  the unverified signatory’s name;

               (f)  if it is known to the cash dealer—the unverified signatory’s address;

               (g)  the name of each other signatory (if any);

               (h)  if it is known to the cash dealer—the address of each other signatory (if any);

                (i)  the cash dealer’s name and address;

                (j)  the nature of the cash dealer’s business;

               (k)  the identifying number of the branch where the account is held;

                (l)  the signature of the cash dealer, or an authorised officer of the dealer;

              (m)  the name, title, telephone number and facsimile number         of the cash dealer or person who signed on behalf of the cash dealer;

               (n)  the total funds deposited in the account on and after the latest of the following dates:

                           (i)  1 February 1991;

                          (ii)  the date the account was opened;

                         (iii)  the date of the last notice under subsection 18 (8) of the Act relating to the account;

               (o)  the total amount of cash deposited in the account since the latest of the dates referred to in paragraph (n);

               (p)  the date of the last transaction on the account;

               (q)  the reasons why the account was blocked, including statements indicating:

                           (i)  whether the credit balance of the account has exceeded $1,000;

                          (ii)  whether the total credits to the account over a period of 30 consecutive days exceeded $2,000;

               (r)  the reason why the account remains blocked.”.

 

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NOTES

 

1.      Notified in the Commonwealth of Australia Gazette on 14 April 1992.

 

2.      Statutory Rules 1990 No. 36 as amended by 1990 Nos. 162, 340 and 341; 1991 Nos. 7, 89 and 166.