Victorian Current Acts Victorian Current ActsS. 119(1) amended by No. 68/2010 s. 28(1).
(1) A cash dealer who is a party to a transaction and who has reasonable grounds for suspecting that information that the cash dealer has concerning the transaction—
(a) may be relevant to an investigation, or prosecution, of a person for an offence against a law of Victoria; or
(b) may be of assistance in the enforcement of this Act or the regulations made under this Act—
must, as soon as practicable, prepare a report of the transaction and communicate the information contained in it to the AUSTRAC CEO.
S. 119(2) amended by No. 68/2010 s. 28(2).
(2) Subsection (1) applies only where the cash dealer is not required to report the transaction under Division 2 of Part II of the Financial Transaction Reports Act 1988 of the Commonwealth or under section 41 of the Anti-Money Laundering and Counter-Terrorism Financing Act 2006 of the Commonwealth.
(3) The report must—
S. 119(3)(a) amended by No. 68/2010 s. 28(1).
(a) be in the form approved by the AUSTRAC CEO in writing for the purposes of section 16 of the Financial Transaction Reports Act 1988 of the Commonwealth;
(b) contain the reportable details of the transaction;
(c) set out the grounds for the suspicion referred to in subsection (1);
(d) be signed by the cash dealer.
S. 119(4) amended by No. 68/2010 s. 28(1).
(4) The communication to the AUSTRAC CEO of the information contained in the report must be made—
S. 119(4)(a) amended by No. 68/2010 s. 28(1).
(a) by giving the AUSTRAC CEO a copy of the report; or
S. 119(4)(b) amended by No. 68/2010 s. 28(1).
(b) in any other manner and form approved by the AUSTRAC CEO.
(5) An approval for the purposes of subsection (4)(b)—
(a) must be in writing; and
(b) may relate to a specified cash dealer or a specified class of cash dealers.
S. 119(6) amended by Nos 43/1998
s. 30, 68/2010 s. 28(1), 37/2014 s. 10(Sch. item 25.26).
(6) A cash dealer who communicates information to the AUSTRAC CEO under subsection (1) or Division 2 of Part II of the Financial Transaction Reports Act 1988 of the Commonwealth must, if requested to do so by a police officer, give any further information that is related, whether directly or indirectly, to the information communicated to the AUSTRAC CEO and is specified in the request to the extent to which the cash dealer has that information.
S. 119(6A) inserted by No. 68/2010 s. 28(3), amended by No. 37/2014 s. 10(Sch. item 25.26).
(6A) A reporting entity who communicates information to the AUSTRAC CEO under section 41 of the Anti-Money Laundering and Counter-Terrorism Financing Act 2006 of the Commonwealth must, if requested to do so by a police officer, give any further information that is related, whether directly or indirectly, to the information communicated to the AUSTRAC CEO and is specified in the request to the extent to which the reporting entity has that information.
S. 119(7) amended by No. 68/2010 s. 28(4)(b)(c).
(7) An action, suit or proceeding does not lie against—
S. 119(7)(a) amended by No. 68/2010 s. 28(4)(a).
(a) a cash dealer or reporting entity; or
S. 119(7)(b) amended by No. 68/2010 s. 28(4)(a).
(b) an officer, employee or agent of the cash dealer or reporting entity acting in the course of that person's appointment, employment or agency—
in relation to any action by the cash dealer, reporting entity or person taken in good faith under this section or taken in good faith in the reasonable belief that it was required by this section.
S. 119(8) amended by No. 68/2010 s. 28(5).
(8) A cash dealer or reporting entity or an officer, employee or agent of a cash dealer or reporting entity who communicates or gives information under this section must be taken, for the purposes of the offence of money laundering, not to have been in possession of that information at any time.
(9) A cash dealer must not refuse or fail—
(a) to prepare a report; or
S. 119(9)(b) amended by No. 68/2010 s. 28(1).
(b) to communicate information to the AUSTRAC CEO—
when and as required under subsection (1).
Penalty: Level 7 imprisonment (2 years maximum) or a level 7 fine (240 penalty units maximum) or both.
S. 119(10) amended by No. 68/2010 s. 28(1).
(10) A cash dealer must not, in communicating information to the AUSTRAC CEO under subsection (1), knowingly—
(a) make a statement that is false or misleading in a material particular; or
(b) omit from a statement any matter or thing without which the statement is misleading in a material particular.
Penalty: Level 7 imprisonment (2 years maximum) or a level 7 fine (240 penalty units maximum) or both.
Pt 13 Div. 4A (Heading and s. 119A) inserted by No. 63/2003 s. 30.
Division 4A—Sharing of information
S. 119A inserted by No. 63/2003 s. 30.