Commonwealth Consolidated Acts

FINANCIAL TRANSACTION REPORTS ACT 1988 - SECT 40Q

    If the transferee ADI is given the original or a copy of the second document within the 120 - day period relating to the giving of the first document, this Part applies to the transferee ADI in relation to the second document as follows:

  (a)   if the second document was covered by paragraphs 40F(1)(a) to (d)--as if the second document were covered by those paragraphs in relation to the transferee ADI;

  (b)   if the second document was covered by subsection   40H(1)--as if the second document were covered by that subsection in relation to the transferee ADI;

  (c)   if the document was covered by subsection   40J(1)--as if the document were covered by that subsection in relation to the transferee ADI;

  (d)   in any case--as if the minimum retention period applicable to the second document were the period of 7 years after the day on which the account was closed.