Access to bank records
133 Access to bank records
The commission may, by written notice, ask an authorised deposit‑taking institution (an ADI) to give the authorised officer named in the notice, during the hours and on the day stated in the notice—
access to a statement of an approved banking account; and
any other particulars relating to the account stated in the notice.
The hours stated in a notice under subsection (1) must be during the normal business hours of the ADI.
The commission may, by written notice, ask an ADI to give the authorised officer named in the notice a copy of a statement of an approved banking account not later than 30 days after the day it receives the notice.
An ADI commits an offence if—
the ADI is given a notice under this section; and
the ADI fails to comply with the notice.
Maximum penalty: 50 penalty units.
Subsection (4) does not apply if the ADI took all reasonable steps to comply with the notice.
This Act’s bill:Explanatory statementSecond reading speech
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