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CRIMINAL PROCEEDS CONFISCATION ACT 2002 - SECT 249

Communication of information by financial institutions to particular officers

249 Communication of information by financial institutions to particular officers

(1) This section applies if a financial institution has information about an account held, or a transaction conducted, with the institution and the institution has reasonable grounds for believing that—
(a) the information may be relevant to—
(i) an investigation of, or the prosecution of a person for, an offence against a law of the State; or
(ii) an investigation of a serious crime related activity or another matter for which an order may be made under chapter 2 ; or
(iii) a matter for which an order may be made under chapter 2A ; or
(b) the information would otherwise be of assistance in the enforcement of this Act.
(2) The institution may give the information to a police officer.
(3) The institution may give the information to a commission officer if the information relates to—
(a) an investigation of a serious crime related activity or another matter for which an order may be made under chapter 2 ; or
(b) a matter for which an order may be made under chapter 2A .
(4) No action, suit or proceeding lies against—
(a) a financial institution; or
(b) an officer or agent of the institution acting in the course of the person’s employment or agency;
in relation to any action taken by the institution or person under subsection (2) or (3) .
(5) If a financial institution, or an officer or agent of the institution, gives information under subsection (2) or (3) as soon as practicable after forming the belief mentioned in subsection (1) , the institution or person is taken, for the purposes of sections 250 and 252 , not to have been in possession of that information at any time.
(6) A person must not, other than as permitted under subsection (2) or (3) , disclose to anyone—
(a) that a financial institution, or an officer of a financial institution, intends to give or has given information to a police officer under subsection (2) ; or
(b) that a financial institution, or an officer of a financial institution, intends to give or has given information to a commission officer under subsection (3) ; or
(c) the nature of any information given under subsection (2) or (3) .
Penalty—
Maximum penalty—10 penalty units.
(7) In this section—

"officer" includes director, secretary, executive officer or employee.



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