Commonwealth Numbered Acts

CRIMES LEGISLATION AMENDMENT ACT 1992 No. 164 of 1992 - SECT 11

11. Section 20 of the Principal Act is repealed and the following sections are
substituted: Cash dealers to hold information

"20.(1) A cash dealer must maintain, in relation to each account, in a way
that can be audited:

   (a)  any account information obtained by the cash dealer; and

   (b)  any signatory information obtained by the cash dealer in relation to
        each signatory to the account; (whether or not subsection 18(1) has
        applied to the account).

"(2) Subsection (1) does not apply to information obtained by the cash dealer
before the commencement of Part 2 of the Crimes Legislation Amendment  Act
1992 . Identification record

"20A.(1) For the purposes of this Act, a cash dealer has an identification
record for a signatory to an account if, and only if:

   (a)  the cash dealer has an identification reference for the signatory
        (whether or not the reference was obtained in connection with that
        account); or

   (b)  the cash dealer is an identifying cash dealer and:

        (i)    the cash dealer has carried out, and has a record of, the
               prescribed verification procedure to identify the signatory; or

        (ii)   the cash dealer has carried out, and has a record of, a
               verification procedure to identify the signatory, being a
               procedure approved by the Director for the cash dealer;
               (whether or not the verification procedure was carried out in
               connection with that account).

"(2) A verification procedure that was prescribed for the purposes of
subsection 20(8) before the commencement of this section is taken to have been
prescribed for the purposes of subparagraph (1)(b)(i).".