New South Wales Consolidated Acts

CRIMINAL ASSETS RECOVERY ACT 1990 - SECT 51B

51B Contents of notices to financial institutions

(1) The notice must--

(a) state that the person giving the notice believes the notice is required--

(i) to determine whether to take an action under this Act, or

(ii) for proceedings under this Act, and

(b) specify the name of the financial institution, and

(c) specify the kind of information or documents required to be provided, and

(d) specify the way in which the information or documents must be provided, and

(e) specify that the information or documents must be provided no later than--

(i) 14 days after the notice is given, or

(ii) if the officer giving the notice thinks it appropriate--another day, occurring no earlier than 3 business days after the notice is given, specified in the notice, and

(f) if the notice specifies that information about the notice must not be disclosed--set out the offence of disclosing the existence or nature of the notice, and

(g) set out the offence of failing to comply with the notice.

(2) For subsection (1)(e)(ii), the person giving the notice must consider the following in deciding whether to specify a day earlier than 14 days after the notice is given--

(a) the urgency of the situation,

(b) hardship that may be caused to the financial institution in complying with the notice.

(3) A financial institution that is given a notice under section 51A may request an extension of the period within which the information or documents must be provided.

(4) The person who gave the notice may, by further written notice on the request of the financial institution or on the person's own initiative, vary the notice to specify that the information or documents must be provided by a later day.