Queensland Consolidated Acts

CRIMINAL PROCEEDS CONFISCATION ACT 2002 - SECT 249E

249E Financial institution must comply with a notice

(1) A financial institution must comply with a notice given to it under section 249B .

Penalty—

Maximum penalty—2,500 penalty units.

(2) It is a defence to a prosecution for an offence against subsection (1) for the financial institution to prove it—

(a) could not reasonably comply with the notice within the time stated in the notice; and

(b) took reasonable steps to comply with the notice; and

(c) gave the advice stated in the notice as soon as practicable after the financial institution was required to give the advice as stated in the notice.