2019

The Parliament of the

Commonwealth of Australia

HOUSE OF REPRESENTATIVES

Presented and read a first time

Currency (Restrictions on the Use of Cash) Bill 2019

No.      , 2019

(Treasury)

A Bill for an Act to restrict the use of cash in transactions, and for related purposes

Contents

Part 1—Preliminary                                                                                                              1

1............ Short title............................................................................................. 1

2............ Commencement................................................................................... 2

3............ Objects................................................................................................ 2

4............ Simplified outline of this Act.............................................................. 3

5............ This Act binds the Crown................................................................... 3

6............ Extension to external Territories.......................................................... 3

7............ Definitions.......................................................................................... 3

8............ Meaning of cash payment limit ........................................................... 4

9............ Value of cash—foreign currency and digital currency........................ 4

10.......... Periodic supplies................................................................................. 4

Part 2—Offences                                                                                                                     5

11.......... Simplified outline of this Part.............................................................. 5

12.......... Offence—cash payments equalling or exceeding the cash payment limit (strict liability)         5

13.......... Offence—cash payments equalling or exceeding cash payment limit.. 6

Part 3—Miscellaneous                                                                                                          9

14.......... Simplified outline of this Part.............................................................. 9

15.......... Treatment of entities other than individuals, bodies corporate and bodies politic      9

16.......... Vicarious criminal liability................................................................ 10

17.......... Recovery of fines.............................................................................. 11

18.......... Saving of other laws......................................................................... 11

19.......... Additional constitutional operation.................................................... 11

20.......... Rules................................................................................................. 12

A Bill for an Act to restrict the use of cash in transactions, and for related purposes

The Parliament of Australia enacts: