Commonwealth Consolidated Acts Commonwealth Consolidated ActsFinancial institution to provide quarterly information
(1) A financial institution that, at the end of any month in a quarter beginning on 1 January, 1 April, 1 July or 1 October in any year (including a quarter in which this section commences), holds any farm management deposit must, within 60 days after the end of the quarter, give the information in subsection (2) in writing to the Agriculture Secretary.
Penalty: 10 penalty units.
(1A) An offence under subsection (1) is an offence of strict liability.
Note: For strict liability , see section 6.1 of the Criminal Code .
Information required
(2) The information is:
(a) the number of farm management deposits held at the end of each month in the quarter; and
(b) the number of depositors in respect of such deposits at the end of each month in the quarter; and
(c) the sum of the balances of such deposits at the end of each month in the quarter; and
(d) subject to subsection (3), any other information, in relation to farm management deposits held by the institution at any time in the quarter, that is required by the regulations for the purposes of this section.
Regulations not to require identity of depositor
(3) The regulations must not, for the purposes of this section, require information that discloses the identity of a depositor or from which the identity could reasonably be inferred.
(4) The expressions "depositor", "farm management deposit" and " financial institution" have the same meanings as in Schedule 2G.