Tasmanian Consolidated Acts Tasmanian Consolidated Acts
(1) A magistrate may, on the application of a police officer, make an order directing a financial institution to give to a police officer information obtained by the institution about transactions conducted through an account held by a particular person with the institution.
(2) A magistrate is not to make a monitoring order unless the magistrate 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, a serious offence; or
(b) was involved in the commission, or is about to be involved in the commission, of a serious offence; or
(c) has derived or is about to derive, directly or indirectly, a commercial or other benefit from the commission of a serious offence.
(3) A monitoring order is to specify –
(a) the name, or names, in which the account is believed to be held; and
(b) the kind of information that the institution is required to give; and
(c) the manner in which the information is to be given.
(4) A monitoring order is to 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 immediately after the date of the order.
(5) If a financial institution is, or has been, subject to a monitoring order, the fact that the monitoring order has been made is to be disregarded for the purposes of the application of section 67 in relation to that institution.
(6) A financial institution that has been given notice of a monitoring order must not knowingly contravene, or knowingly provide false or misleading information in purported compliance with, the order.
Penalty:
Fine not exceeding 1 000 penalty units.
(7) 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.