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CRIME AND CORRUPTION ACT 2001 - SECT 119K
What suspension order must state
119K What suspension order must state
(1) The suspension order must order a financial institution— (a) to notify a
commission officer immediately of any transaction that has been initiated in
connection with an account held with the institution by a person named in the
order; and
(b) to notify a commission officer immediately if there are
reasonable grounds for suspecting that a transaction is about to be initiated
in connection with the account; and
(c) to refrain from completing or
effecting the transaction for 48 hours, unless a named commission officer
gives the financial institution written consent to the transaction being
completed immediately.
(2) In addition, the suspension order must state—
(a) the name or names in which the account is believed to be held; and
(b)
the type of information the institution is required to give; and
(c) the
period, of not more than 3 months from the date of its making, the order is in
force; and
(d) that the order applies to transactions conducted during the
period stated in the order; and
(e) that the information is to be given to
any commission officer or to a stated commission officer and the way in which
the information is to be given.
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