Commonwealth Consolidated Acts Commonwealth Consolidated Acts (1)
A police officer may apply to a Judge of the Supreme Court of a State
or Territory for an order (in this section called a monitoring order )
directing a financial institution to give information to a law enforcement
authority.
(1A)
A police officer is not empowered to make an application under this
section after the commencement of the Proceeds of Crime Act 2002 .
(2)
A monitoring order shall direct a financial institution to give
information obtained by the institution about transactions conducted through
an account held by a particular person with the institution.
(3)
A monitoring order shall apply in relation to transactions conducted
during the period specified in the order (being a period commencing not
earlier than the day on which notice of the order is given to the financial
institution and ending not later than 3 months after the date of the order).
(4)
A Judge shall not make a monitoring order unless he or she is satisfied
that there are reasonable grounds for suspecting that the person in respect of
whose account the information is sought:
(a) has committed, or is about to commit, an indictable offence that is
a serious offence;
(b) was involved in the commission, or is about to be involved in the
commission, of an indictable offence that is a serious offence; or
(c) has benefited directly or indirectly, or is about to benefit
directly or indirectly, from the commission of an indictable offence that is a
serious offence; or
(d) both:
(i) has committed, or is about to commit, 3 or more
public fraud offences; and
(ii) has derived, or is about to derive, substantial benefit from the
commission of any or all of those offences.
(5)
A monitoring order shall specify:
(a) the name or names in which the account is believed to be held;
(b) the class of information that the institution is required to give;
and
(c) the law enforcement authority to which the information is to be
given, and the manner in which the information is to be given.
(6)
Where a financial institution is, or has been, subject to a monitoring
order, the fact that the monitoring order has been made shall be disregarded
for the purposes of the application of sections 81 and 82 in relation to
the institution.
(7)
Where a financial institution that has been given notice of a
monitoring order intentionally:
(a) contravenes the order; or
(b) provides false or misleading information in purported compliance
with the order;
the institution is guilty of an offence against this
subsection punishable, upon conviction, by a fine not exceeding $100,000.
(8)
A reference in this section to a transaction conducted through an
account includes a reference to:
(a) the making of a fixed term deposit; and
(b) in relation to a fixed term deposit—the transfer of the
amount deposited, or any part of it, at the end of the term.