FINANCIAL TRANSACTION REPORTS ACT 1992

NORTHERN TERRITORY OF AUSTRALIA FINANCIAL TRANSACTION REPORTS ACT 1992 As in force at 1 January 2013 Table of provisions 1 Short title ......................................................................................... 1 2 Commencement .............................................................................. 1 3 Interpretation ................................................................................... 1 4 Act binds Crown .............................................................................. 2 5 Further information about matters reported by cash dealers under FTR Act ................................................................................. 2 5A Further information or documents about matters reported by reporting entities under AMLCTF Act .............................................. 2 6 Reports by cash dealers of suspect transactions not reported under FTR Act or AMLCTF Act........................................................ 3 6A Further information about suspect transactions not reported under FMR Act or AMLCTF Act ....................................................... 4 7 Protection of cash dealers, reporting entities etc. ............................ 4 8 False or misleading statements ....................................................... 5 9 Secrecy............................................................................................ 5 10 Law relating to client legal privilege not affected ............................. 6 11 Transitional matters for Financial Transaction Reports Amendment Act 2010 ...................................................................... 6 ENDNOTES -- 1 of 9 -- NORTHERN TERRITORY OF AUSTRALIA ____________________ As in force at 1 January 2013 ____________________ FINANCIAL TRANSACTION REPORTS ACT 1992 An Act to provide for the giving of further information or documents in relation to matters reported under the Financial Transaction Reports Act 1988 (Cth) or Anti-Money Laundering and Counter-Terrorism Financing Act 2006 (Cth) and the giving of information in relation to other suspect transactions, and for related purposes 1 Short title This Act may be cited as the Financial Transaction Reports Act 1992. 2 Commencement This Act shall come into operation or be deemed to have come into operation on 6 December 1992. 3 Interpretation (1) In this Act: AMLCTF Act means the Anti-Money Laundering and Counter-Terrorism Financing Act 2006 (Cth). court includes any tribunal, authority or person having power to require the production of documents or the answering of questions. designated authority means: (a) the Commissioner of Police; or (b) a police officer who is carrying out an investigation arising from, or relating to matters referred to in, information communicated to the AUSTRAC CEO. FTR Act means the Financial Transaction Reports Act 1988 (Cth). protected information means information obtained under this Act. (2) Unless the contrary intention appears, expressions used in the FTR Act or AMLCTF Act have the same respective meanings in this Act. -- 2 of 9 -- Financial Transaction Reports Act 1992 2 4 Act binds Crown (1) This Act binds the Crown, not only in right of the Territory but, to the extent that the legislative power of the Legislative Assembly permits, in all its other capacities. (2) Nothing in subsection (1) renders the Crown liable to be prosecuted for an offence against this Act. 5 Further information about matters reported by cash dealers under FTR Act (1) This section applies if a cash dealer communicates information to the AUSTRAC CEO under section 16(1) or (1A) of the FTR Act. (2) A designated authority may request the cash dealer to give to the designated authority the further information as stated in the request. (3) The further information must be information that: (a) may be relevant to the investigation of, or prosecution of a person for, an offence against a law of the Territory; or (b) may be of assistance in the enforcement of the Criminal Property Forfeiture Act 2002. (4) The cash dealer must comply with the request to the extent that the cash dealer has the further information. Maximum penalty: 85 penalty units or imprisonment for 2 years. 5A Further information or documents about matters reported by reporting entities under AMLCTF Act (1) This section applies if a reporting entity communicates information to the AUSTRAC CEO under section 41, 43 or 45 of the AMLCTF Act. (2) A designated authority may give a written notice to the reporting entity requesting the reporting entity, within the period and in the way stated in the notice, to: (a) give to the designated authority the further information as stated in the notice; or (b) produce to the designated authority the documents about the matter to which the communication under section 41, 43 or 45 of the AMLCTF Act relates, as stated in the notice. -- 3 of 9 -- Financial Transaction Reports Act 1992 3 (3) The further information or documents must be information or documents that: (a) may be relevant to the investigation of, or prosecution of a person for, an offence against a law of the Territory; or (b) may be of assistance in the enforcement of the Criminal Property Forfeiture Act 2002. (4) The reporting entity must comply with the request to the extent that the reporting entity has the further information or documents. Maximum penalty: 85 penalty units or imprisonment for 2 years. 6 Reports by cash dealers of suspect transactions not reported under FTR Act or AMLCTF Act (1) This section applies if: (a) a cash dealer is a party to a transaction; and (b) the cash dealer has reasonable grounds to suspect that information that the cash dealer has concerning the transaction: (i) may be relevant to the investigation of, or prosecution of a person for, an offence against the law of the Territory; or (ii) may be of assistance in the enforcement of the Criminal Property Forfeiture Act 2002; and (c) the cash dealer is not required to report the transaction under: (i) Part II, Division 2 of the FTR Act; or (ii) if the cash dealer is a reporting entity – Part 3, Division 2, 3 or 4 of the AMLCTF Act; and whether or not the cash dealer is required to report the transaction under Part II, Division 1 of the FTR Act. (2) The cash dealer must, as soon as practicable after forming the suspicion mentioned in subsection (1)(b), prepare a report of the transaction and communicate the information contained in it to the AUSTRAC CEO. Maximum penalty: 85 penalty units or imprisonment for 2 years. -- 4 of 9 -- Financial Transaction Reports Act 1992 4 (3) The report must: (a) be in the form approved by the AUSTRAC CEO for the purposes of section 41 of the AMLCTF Act; and (b) contain the reportable details of the transaction; and (c) contain a statement of the grounds on which the cash dealer holds the suspicion mentioned in subsection (1)(b); and (d) be signed by the cash dealer. (4) The communication to the AUSTRAC CEO of the information contained in the report must be made: (a) by giving the AUSTRAC CEO a copy of the report; or (b) in another way approved by the AUSTRAC CEO. 6A Further information about suspect transactions not reported under FMR Act or AMLCTF Act (1) This section applies if a cash dealer communicates information to the AUSTRAC CEO under section 6(2). (2) A designated authority may request the cash dealer to give to the designated authority the further information as stated in the request. (3) The further information must be information that: (a) may be relevant to the investigation of, or prosecution of a person for, an offence against a law of the Territory; or (b) may be of assistance in the enforcement of the Criminal Property Forfeiture Act 2002. (4) The cash dealer must comply with the request to the extent that the cash dealer has the further information. Maximum penalty: 85 penalty units or imprisonment for 2 years. 7 Protection of cash dealers, reporting entities etc. (1) A proceeding does not lie against: (a) an entity in relation to anything done by the entity: (i) that was required under this Act; or -- 5 of 9 -- Financial Transaction Reports Act 1992 5 (ii) in the mistaken belief that it was required under this Act; or (b) an officer, employee or agent of an entity in relation to anything done by the person in the course of the person's appointment, employment or agency: (i) that was required under this Act; or (ii) in the mistaken belief that it was required under this Act. (2) If an entity, or a person who is an officer, employee or agent of an entity, communicates or gives information or produces documents under a prescribed provision, the entity or person is taken, for sections 231B and 231C of the Criminal Code, not to have been in possession of the information at any time. (3) In this section: entity means a cash dealer or a reporting entity. prescribed provision means: (a) section 5, 5A, 6 or 6A; or (b) section 16 of the FTR Act; or (c) section 41, 43 or 45 of the AMLCTF Act. 8 False or misleading statements A person shall not, in giving information under this Act: (a) make a statement that the person knows is false or misleading in a material particular; or (b) omit anything from a statement knowing that without the thing the statement is misleading in a material particular. Maximum penalty: 220 penalty units or imprisonment for 5 years. 9 Secrecy (1) This section applies to a person who is or has been the Commissioner of Police or a police officer. (2) A person shall not: (a) make a record of protected information; or -- 6 of 9 -- Financial Transaction Reports Act 1992 6 (b) whether directly or indirectly, divulge or communicate protected information, unless the record is made, or the information divulged or communicated, in the performance of duties relating to the enforcement of a law of the Territory, the Commonwealth, a State or another Territory of the Commonwealth. Maximum penalty: 85 penalty units or imprisonment for 2 years. (3) A person is not required to divulge or communicate protected information to a court unless it is necessary to do so for the enforcement of a law of the Territory, the Commonwealth, a State or another Territory of the Commonwealth. 10 Law relating to client legal privilege not affected To remove any doubt, it is declared that this Act does not affect the law relating to client legal privilege. 11 Transitional matters for Financial Transaction Reports Amendment Act 2010 It is declared that section 6 of the Financial Transaction Reports Amendment Act 2010 effects a repeal to which section 12 of the Interpretation Act applies. -- 7 of 9 -- ENDNOTES Financial Transaction Reports Act 1992 7 ENDNOTES 1 KEY Key to abbreviations amd = amended od = order app = appendix om = omitted bl = by-law pt = Part ch = Chapter r = regulation/rule cl = clause rem = remainder div = Division renum = renumbered exp = expires/expired rep = repealed f = forms s = section Gaz = Gazette sch = Schedule hdg = heading sdiv = Subdivision ins = inserted SL = Subordinate Legislation lt = long title sub = substituted nc = not commenced 2 LIST OF LEGISLATION Financial Transaction Reports Act 1992 (Act No. 71, 1992) Assent date 14 December 1992 Commenced 6 December 1992 (s 2) Justice Legislation Amendment (Penalties) Act 2010 (Act No. 12, 2010) Assent date 20 May 2010 Commenced 1 July 2010 (Gaz G24, 16 June 2010, p 2) Financial Transaction Reports Amendment Act 2010 (Act No. 23, 2010) Assent date 30 June 2010 Commenced 21 July 2010 (Gaz G29, 21 July 2010, p 6) Evidence (National Uniform Legislation) (Consequential Amendments) Act 2012 (Act No. 23, 2012) Assent date 21 November 2012 Commenced 1 January 2013 (Gaz G51, 19 December 2012, p 4) 3 GENERAL AMENDMENTS General amendments of a formal nature (which are not referred to in the table of amendments to this reprint) are made by the Interpretation Legislation Amendment Act 2018 (Act No. 22, 2018) to: ss 1, 5, 5A, 6 and 6A. 4 LIST OF AMENDMENTS lt amd No. 23, 2010, s 4 s 3 amd No. 23, 2010, s 5 s 5 amd No. 12, 2010, s 3 sub No. 23, 2010, s 6 s 5A ins No. 23, 2010, s 6 -- 8 of 9 -- ENDNOTES Financial Transaction Reports Act 1992 8 s 6 amd No. 12, 2010, s 3 sub No. 23, 2010, s 6 s 6A ins No. 23, 2010, s 6 s 7 sub No. 23, 2010, s 6 ss 8 – 9 amd No. 12, 2010, s 3 s 10 sub No. 23, 2010, s 7 amd No. 23, 2012, s 32 s 11 ins No. 23, 2010, s 7 -- 9 of 9 --