ANTI-MONEY LAUNDERING AND COUNTER-TERRORISM FINANCING ACT 2006 - SECT 126 Dealings with AUSTRAC information

ANTI-MONEY LAUNDERING AND COUNTER-TERRORISM FINANCING ACT 2006 - SECT 126

  (1)   A person commits an offence if:

  (a)   the person is, or has been, an official of a Commonwealth, State or Territory agency; and

  (b)   the person has obtained AUSTRAC information under subsection   121(2) or (3), section   125 or subsection   (2) of this section; and

  (c)   the person makes a record of, discloses or otherwise uses the information.

Penalty:   Imprisonment for 2 years or 120 penalty units, or both.

Exception--functions, duties or powers of officials etc.

  (2)   Subsection   (1) does not apply if:

  (a)   the making of the record, disclosure or use is for the purposes of, or in connection with, the performance or exercise of the person's functions, duties or powers as an official of a Commonwealth, State or Territory agency; or

  (b)   the disclosure is to another official of a Commonwealth, State or Territory agency for the purposes of, or in connection with, the performance or exercise of the other official's functions, duties or powers in relation to the agency; or

  (c)   the disclosure is to a Minister of the Commonwealth or of a State or Territory for the purposes of, or in connection with, the performance of that Minister's responsibilities; or

  (d)   the disclosure is in accordance with section   127.

Note:   A defendant bears an evidential burden in relation to a matter in subsection   (2) (see subsection   13.3(3) of the Criminal Code ).

Exception--court or tribunal proceedings etc.

  (3)   Subject to subsection   (3A), subsection   (1) does not apply if the disclosure is to a person for the purposes of or in connection with:

  (a)   court or tribunal proceedings; or

  (b)   proposed or possible court or tribunal proceedings; or

  (c)   obtaining legal advice.

Note:   A defendant bears an evidential burden in relation to the matter in subsection   (3) (see subsection   13.3(3) of the Criminal Code ).

  (3A)   Subsection   (3) does not apply if the AUSTRAC information:

  (a)   was obtained under section   41 (reports of suspicious matters); or

  (b)   was obtained under section   49 (further information to be given to the AUSTRAC CEO etc.), in so far as that section relates to a communication under section   41; or

  (c)   was obtained under section   16 of the   Financial Transaction Reports Act 1988 (reports of suspect transactions).

Secondary disclosure

  (4)   A person commits an offence if:

  (a)   AUSTRAC information is disclosed to the person under subsection   (3); and

  (b)   the person discloses the information to another person.

Penalty:   Imprisonment for 2 years or 120 penalty units, or both.

  (5)   Subsection   (4) does not apply if:

  (a)   the disclosure is for the purposes of or in connection with:

  (i)   the court or tribunal proceedings; or

  (ii)   the proposed or possible court or tribunal proceedings; or

  (iii)   obtaining or giving the legal advice; or

  (b)   the disclosure is permitted by this Division.

Note:   A defendant bears an evidential burden in relation to the matter in subsection   (5) (see subsection   13.3(3) of the Criminal Code ).