Commonwealth Consolidated Acts

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FINANCIAL TRANSACTION REPORTS ACT 1988 - SECT 30

Incomplete information

  (1)   A cash dealer commits an offence against this section if the dealer, in communicating information to the AUSTRAC CEO in relation to a transaction as required under Part   II, knows that the information is incomplete in relation to the transaction.

  (2)   A financial institution commits an offence against this section if the institution, in maintaining the institution's exemption register as required under Division   1 of Part   II, knows that the register is incomplete.

  (3)   A person commits an offence against this section if the person, in communicating information to the AUSTRAC CEO in relation to a transaction as required under section   15A, knows that the information is incomplete in relation to the transaction.

  (4)   A person who commits an offence against this section is punishable, upon conviction, by a fine of not more than 10 penalty units.

Note:   If a body corporate is convicted of an offence, subsection   4B(3) of the Crimes Act 1914 allows a court to impose a fine that is not greater than 5 times the maximum fine that could be imposed by the court on an individual convicted of the same offence. The amount of a penalty unit is stated in section   4AA of that Act.



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