A summary of provisions of and of the FTR Act referred to in the PLI are set out below: Type of Monitoring Type of information which can Relevant reporting compliance be inspected provision entity under which in the FTR section of the Act FTR Act? Cash dealer Cash any records kept at, or Subsection dealer’s compliance with: accessible from, the 27C(2) Section 7 premises that relate to the Section 16; obligations under dealer’s and sections 7, 16 and 17B; and Section 17B any system used by the cash dealer at the premises for keeping those records; and any reports retained at, or accessible from, the premises under sections 7, 16 and 17B; and any system used by the cash dealer in connection with: preparing reports under those sections; or sending such reports to the AUSTRAC CEO; or retaining such reports. Cash dealer Cash records of account information Subsection dealer’s compliance with: and signatory information kept 27C(3) Section 20; at, or accessible from, the and premises; and Any any system used by the dealer undertaking at those premises for keeping given under such records. section 8A. Cash dealer Cash records containing reportable Subsection carrier’s who is an record-keeping details (within the meaning of 27C(2A) approved obligations that section) of significant cash carrier referred to in cash transactions to which the section 8 cash dealer is a party that are kept at, or accessible from the premises; and any system used by the dealer at those premises for keeping such records. Cash dealer records of information Subsection Bullion seller’s who is a compliance with compiled or obtained in the 27C(4) bullion seller sections 24C and course of obtaining an 24D identification record for a party to a bullion transaction, being records kept at, or accessible from, the premises; and
A summary of provisions of and of the FTR Act referred to in the PLI are set out below: Type of reporting entity Monitoring compliance under which section of the FTR Act? Type of information which can be inspected Relevant provision in the FTR Act Cash dealer Cash dealer’s compliance with: Section 7 Section 16; and Section 17B any records kept at, or accessible from, the premises that relate to the dealer’s obligations under sections 7, 16 and 17B; and any system used by the cash dealer at the premises for keeping those records; and any reports retained at, or accessible from, the premises under sections 7, 16 and 17B; and any system used by the cash dealer in connection with: preparing reports under those sections; or sending such reports to the AUSTRAC CEO; or retaining such reports. Subsection 27C(2) Cash dealer Cash dealer’s compliance with: Section 20; and Any undertaking given under section 8A. records of account information and signatory information kept at, or accessible from, the premises; and any system used by the dealer at those premises for keeping such records. Subsection 27C(3) Cash dealer who is an approved cash carrier Cash carrier’s record-keeping obligations referred to in section 8 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 any system used by the dealer at those premises for keeping such records. Subsection 27C(2A) Cash dealer who is a bullion seller Bullion seller’s compliance with sections 24C and 24D records of information compiled or obtained in the course of obtaining an identification record for a party to a bullion transaction, being records kept at, or accessible from, the premises; and Subsection 27C(4)
pli12-notices-reporting-entities-section-september-2009.docx