"prescribed commercial instrument" means:

(a)

a cheque, bill of exchange, promissory note or other like instrument creating an entitlement to currency; or

(b)

any instrument (including an electronic instrument) that is declared to be a prescribed commercial instrument for the purposes of this definition.

3A After paragraph 15(1)(b)

Insert:

and (c) a report in respect of the transfer has not been given in accordance with this section;

3B Subsection 15(1)

Omit "unless a report in respect of the transfer has been given in accordance with this section".

3C After subsection 15(1)

Insert:

(1A)

Strict liability applies to paragraph (1)(c).

Note: For strict liability , see section 6.1 of the Criminal Code .

3D After paragraph 15(5)(b)

Insert:

and (c) a report in respect of the transfer of the currency into Australia has not been made in accordance with subsection (1) before the transfer; and

(d)

a report in respect of the receipt of currency is not given in accordance with this section before the end of the period of 30 days commencing on the day of the receipt of the currency;

3E Subsection 15(5)

Omit all the words from and including "unless".

3F After subsection 15(5)

Insert:

(5A)

Strict liability applies to paragraphs (5)(c) and (d).

Note: For strict liability , see section 6.1 of the Criminal Code .

4 At the end of Division 4 of Part II

Insert:

17J Information provided to AUSTRAC from a foreign country

For the purposes of this Act, information concerning a specific financial transaction that is received by AUSTRAC as a result of a request to a foreign country or to an agency of a foreign country is taken to have been obtained under this Act.

Note: The heading to section 17H is altered by omitting "other law" and substituting "another law of the Commonwealth or a law of a State or Territory".

5 After subsection 27(1A)

Insert:

(1B)

Despite paragraph (1)(b), the Director may only authorise the Queensland Crime Commission or the Anti-Corruption Commission of Western Australia under that paragraph if the Commission undertakes that it will comply with the information privacy principles set out in section 14 of the Privacy Act 1988 in respect of FTR information obtained under the authorisation.

6 At the end of subsection 27(16)

Add:

; and (h) the Queensland Crime Commission; and

(i)

the Anti-Corruption Commission of Western Australia.

7 At the end of subsection 27(17)

Add:

; and (t) the Crime Commissioner, or an Assistant Crime Commissioner, of the Queensland Crime Commission; and

(u)

a member of the staff of that Commission; and

(v)

a member of the Anti-Corruption Commission of Western Australia; and

(w)

a member of the staff of that Commission.

8 After subsection 27C(2)

Insert:

(2A)

For the purpose of monitoring the compliance of a cash dealer who is an approved cash carrier with the record-keeping obligations referred to in section 8, the officer may inspect:

(a)

records containing reportable details (within the meaning of that section) of significant cash transactions to which the cash dealer is a party that are kept at, or accessible from, the premises; and

(b)

any system used by the dealer at those premises for keeping such records.