New South Wales Consolidated Acts

CRIMINAL ASSETS RECOVERY ACT 1990 - SECT 51

51 Communication of information by financial institutions to prescribed authorities

(1) If a financial institution has reasonable grounds for believing that information it has about a transaction with the institution--

(a) might be relevant to an investigation of a serious crime related activity or the making of a confiscation order, or

(b) might otherwise be of assistance in the enforcement of this Act or the regulations,

the institution may give the information to the Commission.

(1A) The Commission may at any time request a financial institution to give information to the Commission about a transaction with the institution that might be of assistance in the enforcement of this Act or the regulations.