Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) A police officer may apply to a Judge of the Supreme Court of a State or Territory for an order (in this section called a monitoring order ) directing a financial institution to give information to a law enforcement authority.
(1A) A police officer is not empowered to make an application under this section after the commencement of the Proceeds of Crime Act 2002 .
(2) A monitoring order shall direct a financial institution to give information obtained by the institution about transactions conducted through an account held by a particular person with the institution.
(3) A monitoring order shall 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 after the date of the order).
(4) A Judge shall not make a monitoring order unless he or she 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, an indictable offence that is a serious offence;
(b) was involved in the commission, or is about to be involved in the commission, of an indictable offence that is a serious offence; or
(c) has benefited directly or indirectly, or is about to benefit directly or indirectly, from the commission of an indictable offence that is a serious offence; or
(d) both:
(i) has committed, or is about to commit, 3 or more public fraud offences; and
(ii) has derived, or is about to derive, substantial benefit from the commission of any or all of those offences.
(5) A monitoring order shall specify:
(a) the name or names in which the account is believed to be held;
(b) the class of information that the institution is required to give; and
(c) the law enforcement authority to which the information is to be given, and the manner in which the information is to be given.
(6) Where a financial institution is, or has been, subject to a monitoring order, the fact that the monitoring order has been made shall be disregarded for the purposes of the application of sections 81 and 82 in relation to the institution.
(7) Where a financial institution that has been given notice of a monitoring order intentionally:
(a) contravenes the order; or
(b) provides false or misleading information in purported compliance with the order;
the institution commits an offence against this subsection punishable, upon conviction, by a fine not exceeding 1,000 penalty units .
(8) 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.