Commonwealth Consolidated Acts Commonwealth Consolidated ActsAct No. 169 of 2006 as amended
This compilation was prepared on 2 April 2012
taking into account amendments up to Act No. 132 of 2011
The text of any of those amendments not in force
on that date is appended in the Notes section
The operation of amendments that have been incorporated may
be
affected by application provisions that are set out in the Notes section
Prepared by the Office of Legislative Drafting and
Publishing,
Attorney-General's Department, Canberra
Contents
Part 1--Introduction 1
1............ Short title [see Note 1] ........................................................................ 1
2............ Commencement ................................................................................... 1
3............ Objects ................................................................................................ 3
4............ Simplified outline ................................................................................ 5
5............ Definitions .......................................................................................... 6
6............ Designated services ........................................................................... 35
7............ Services provided jointly to 2 or more customers ............................. 58
8............ Person-to-person electronic funds transfer instructions .................... 58
9............ Same-person electronic funds transfer instructions ........................... 60
10.......... Designated remittance arrangements etc. ........................................... 62
11.......... Control test ........................................................................................ 63
12.......... Owner-managed branches of ADIs .................................................. 64
13.......... Eligible gaming machine venues ....................................................... 64
14.......... Residency .......................................................................................... 64
15.......... Shell banks ........................................................................................ 66
16.......... Electronic communications ................................................................ 67
17.......... Bearer negotiable instruments ........................................................... 67
18.......... Translation of foreign currency to Australian currency ..................... 68
19.......... Translation of e-currency to Australian currency .............................. 68
20.......... Clubs and associations ...................................................................... 68
21.......... Permanent establishment ................................................................... 68
22.......... Officials of designated agencies etc. .................................................. 69
23.......... Continuity of partnerships ................................................................. 70
24.......... Crown to be bound ........................................................................... 70
25.......... Extension to external Territories ........................................................ 70
26.......... Extra-territorial application ................................................................ 71
Part 2--Identification procedures etc. 72
Division 1--Introduction 72
27.......... Simplified outline .............................................................................. 72
Division 2--Identification procedures for certain pre-commencement customers 73
28.......... Identification procedures for certain pre-commencement customers . 73
29.......... Verification of identity of pre-commencement customer etc. ............. 73
Division 3--Identification procedures for certain low-risk services 75
30.......... Identification procedures for certain low-risk services ...................... 75
31.......... Verification of identity of low-risk service customer etc. .................. 75
Division 4--Identification procedures etc. 77
32.......... Carrying out the applicable customer identification procedure before the commencement of the provision of a designated service. .............................................................................................. 77
33.......... Special circumstances that justify carrying out the applicable customer identification procedure after the commencement of the provision of a designated service ............................................ 77
34.......... Carrying out the applicable customer identification procedure after the commencement of the provision of a designated service etc. ......................................................................................... 78
Division 5--Verification of identity etc. 80
35.......... Verification of identity of customer etc. ............................................ 80
Division 5A--Use and disclosure of personal information for the purposes of verifying an individual's identity 81
35A....... Reporting entities may disclose certain personal information to credit reporting agencies for identity verification purposes .......................................................................................................... 81
35B....... Credit reporting agencies may use and disclose certain personal information for identity verification purposes 82
35C....... Reporting entities to notify inability to verify identity ....................... 83
35D....... Verification information not to be included on credit information file 83
35E........ Retention of verification information--credit reporting agencies ...... 83
35F........ Retention of verification information--reporting entities .................. 84
35G....... Access to verification information ..................................................... 85
35H....... Unauthorised access to verification information--offence ................ 85
35J........ Obtaining access to verification information by false pretences--offence 85
35K....... Unauthorised use or disclosure of verification information--offence 86
35L........ Breach of requirement is an interference with privacy ....................... 86
Division 6--Ongoing customer due diligence 87
36.......... Ongoing customer due diligence ....................................................... 87
Division 7--General provisions 89
37.......... Applicable customer identification procedures may be carried out by an agent of a reporting entity 89
38.......... Applicable customer identification procedures deemed to be carried out by a reporting entity 89
39.......... General exemptions ........................................................................... 90
Part 3--Reporting obligations 92
Division 1--Introduction 92
40.......... Simplified outline .............................................................................. 92
Division 2--Suspicious matters 93
41.......... Reports of suspicious matters ........................................................... 93
42.......... Exemptions ....................................................................................... 95
Division 3--Threshold transactions 97
43.......... Reports of threshold transactions ...................................................... 97
44.......... Exemptions ....................................................................................... 97
Division 4--International funds transfer instructions 99
45.......... Reports of international funds transfer instructions ........................... 99
46.......... International funds transfer instruction ............................................ 100
Division 5--AML/CTF compliance reports 102
47.......... AML/CTF compliance reports ........................................................ 102
48.......... Self-incrimination ............................................................................ 103
Division 6--General provisions 104
49.......... Further information to be given to the AUSTRAC CEO etc. .......... 104
49A....... AML/CTF Rules may make provision in relation to reports by registered remittance affiliates 105
50.......... Request to obtain information about the identity of holders of foreign credit cards and foreign debit cards 106
51.......... Division 400 and Chapter 5 of the Criminal Code .......................... 107
Part 3A--Reporting Entities Roll 108
51A....... Simplified outline ............................................................................ 108
51B....... Reporting entities must enrol ........................................................... 108
51C....... Reporting Entities Roll .................................................................... 108
51D....... Enrolment ........................................................................................ 109
51E........ Applications for enrolment .............................................................. 109
51F........ Enrolled persons to advise of change in enrolment details .............. 109
51G....... Removal of entries from the Reporting Entities Roll ....................... 110
Part 4--Reports about cross-border movements of physical currency and bearer negotiable instruments 111
Division 1--Introduction 111
52.......... Simplified outline ............................................................................ 111
Division 2--Reports about physical currency 112
53.......... Reports about movements of physical currency into or out of Australia 112
54.......... Timing of reports about physical currency movements ................... 113
55.......... Reports about receipts of physical currency from outside Australia 115
56.......... Obligations of customs officers and police officers ........................ 116
57.......... Movements of physical currency out of Australia ........................... 116
58.......... Movements of physical currency into Australia .............................. 116
Division 3--Reports about bearer negotiable instruments 117
59.......... Reports about movements of bearer negotiable instruments into or out of Australia 117
60.......... Obligations of customs officers and police officers ........................ 118
Division 4--Information about reporting obligations 119
61.......... Power to affix notices about reporting obligations .......................... 119
62.......... Notice about reporting obligations to be given to travellers to Australia .. 120
Part 5--Electronic funds transfer instructions 121
Division 1--Introduction 121
63.......... Simplified outline ............................................................................ 121
Division 2--2 or more institutions involved in the transfer 122
64.......... Electronic funds transfer instructions--2 or more institutions involved in the transfer 122
65.......... Request to include customer information in certain international electronic funds transfer instructions 125
Division 3--Only one institution involved in the transfer 128
66.......... Electronic funds transfer instructions--only one institution involved in the transfer 128
Division 4--General provisions 130
67.......... Exemptions ..................................................................................... 130
68.......... Defence of relying on information supplied by another person ....... 131
69.......... Division 400 and Chapter 5 of the Criminal Code .......................... 132
70.......... Required transfer information ......................................................... 132
71.......... Complete payer information ............................................................ 133
72.......... Tracing information ......................................................................... 134
Part 6--The Remittance Sector Register 135
Division 1--Simplified outline 135
73.......... Simplified outline ............................................................................ 135
Division 2--Restrictions on providing certain remittance services 136
74.......... Unregistered persons must not provide certain remittance services . 136
Division 3--Registration of persons 139
75.......... Remittance Sector Register .............................................................. 139
75A....... Information to be entered on the Remittance Sector Register .......... 139
75B....... Applications for registration ............................................................ 140
75C....... Registration by AUSTRAC CEO ................................................... 141
75D....... Spent convictions scheme ............................................................... 143
75E........ Registration may be subject to conditions ....................................... 143
75F........ When registration of a person ceases .............................................. 143
75G....... Cancellation of registration .............................................................. 144
75H....... Suspension of registration ............................................................... 144
75J........ Renewal of registration ................................................................... 145
75K....... Removal of entries from the Remittance Sector Register ................. 146
75L........ AML/CTF Rules--general provision ............................................. 147
75M...... Registered persons to advise of material changes in circumstance etc. 147
75N....... AUSTRAC CEO may request further information ......................... 148
75P........ Immunity from suit ......................................................................... 148
Division 4--Notice and review of decisions 150
75Q....... Steps to be taken by AUSTRAC CEO before making certain reviewable decisions 150
75R....... Internal review of reviewable decisions .......................................... 150
75S........ AAT review of decisions ................................................................ 152
Division 5--Basis of registration 153
75T........ Basis of registration ........................................................................ 153
Part 7--Anti-money laundering and counter-terrorism financing programs 154
Division 1--Introduction 154
80.......... Simplified outline ............................................................................ 154
Division 2--Reporting entity's obligations 155
81.......... Reporting entity must have an anti-money laundering and counter-terrorism financing program 155
82.......... Compliance with Part A of an anti-money laundering and counter-terrorism financing program 155
Division 3--Anti-money laundering and counter-terrorism financing programs 157
83.......... Anti-money laundering and counter-terrorism financing programs . 157
84.......... Standard anti-money laundering and counter-terrorism financing program 157
85.......... Joint anti-money laundering and counter-terrorism financing program 159
86.......... Special anti-money laundering and counter-terrorism financing program 161
87.......... Revocation of adoption of anti-money laundering and counter-terrorism financing program 162
88.......... Different applicable customer identification procedures .................. 162
89.......... Applicable customer identification procedures--agent of customer 163
90.......... Applicable customer identification procedures--customers other than individuals 164
91.......... Applicable customer identification procedures--disclosure certificates 166
Division 4--Other provisions 168
92.......... Request to obtain information from a customer ............................... 168
93.......... Exemptions ..................................................................................... 169
Part 8--Correspondent banking 170
94.......... Simplified outline ............................................................................ 170
95.......... Prohibition of entry into correspondent banking relationships with shell banks etc. 170
96.......... Termination of correspondent banking relationship with shell bank etc. 171
97.......... Due diligence assessments before entering into correspondent banking relationships etc. 172
98.......... Regular due diligence assessments of correspondent banking relationships etc. 173
99.......... Other rules about correspondent banking relationships ................... 174
100........ Geographical links .......................................................................... 175
Part 9--Countermeasures 176
101........ Simplified outline ............................................................................ 176
102........ Countermeasures ............................................................................. 176
103........ Sunsetting of regulations after 2 years ............................................ 177
Part 10--Record-keeping requirements 178
Division 1--Introduction 178
104........ Simplified outline ............................................................................ 178
105........ Privacy Act not overridden by this Part .......................................... 178
Division 2--Records of transactions etc. 179
106........ Records of designated services ....................................................... 179
107........ Transaction records to be retained ................................................... 180
108........ Customer-provided transaction documents to be retained ............... 180
109........ Records relating to transferred ADI accounts ................................. 181
110........ Retention of records relating to closed ADI accounts ..................... 182
Division 3--Records of identification procedures 184
111........ Copying documents obtained in the course of carrying out an applicable custom identification procedure 184
112........ Making of records of identification procedures ............................... 184
113........ Retention of records of identification procedures ............................ 185
114........ Records of identification procedures deemed to have been carried out by a reporting entity 186
Division 4--Records about electronic funds transfer instructions 189
115........ Retention of records about electronic funds transfer instructions .... 189
Division 5--Records about anti-money laundering and counter-terrorism financing programs 191
116........ Records about anti-money laundering and counter-terrorism financing programs 191
Division 6--Records about due diligence assessments of correspondent banking relationships 193
117........ Retention of records of due diligence assessments of correspondent banking relationships 193
Division 7--General provisions 194
118........ Exemptions ..................................................................................... 194
119........ This Part does not limit any other obligations ................................. 194
Part 11--Secrecy and access 195
Division 1--Introduction 195
120........ Simplified outline ............................................................................ 195
Division 2--Secrecy 196
121........ Secrecy--AUSTRAC information and AUSTRAC documents ..... 196
122........ Secrecy--information obtained under section 49 ............................ 197
Division 3--Disclosure of information 200
123........ Offence of tipping off ..................................................................... 200
124........ Report and information not admissible ............................................ 204
Division 4--Access to AUSTRAC information by agencies 206
Subdivision A--Access by the ATO to AUSTRAC information 206
125........ Access by the ATO to AUSTRAC information ............................. 206
Subdivision B--Access by designated agencies to AUSTRAC information 207
126........ Access by designated agencies to AUSTRAC information ............ 207
127........ Dealings with AUSTRAC information once accessed .................... 208
128........ When AUSTRAC information can be passed on by an official of a designated agency 209
Subdivision C--Access by non-designated Commonwealth agencies to AUSTRAC information 216
129........ Access by non-designated Commonwealth agencies to AUSTRAC information 216
130........ Dealings with AUSTRAC information once accessed .................... 216
131........ When AUSTRAC information can be passed on by an official of a non-designated Commonwealth agency 217
Subdivision D--Communication of AUSTRAC information to foreign countries etc. 218
132........ Communication of AUSTRAC information to a foreign country etc. 218
133........ When the Director-General of Security may communicate AUSTRAC information to a foreign intelligence agency ........................................................................................................ 221
133A..... When the Director-General of ASIS may communicate AUSTRAC information to a foreign intelligence agency 221
133B..... When the Director of a defence intelligence agency may communicate AUSTRAC information to a foreign intelligence agency ............................................................................................. 222
133C..... When the Director-General of ONA may communicate AUSTRAC information to a foreign intelligence agency 222
Division 5--Use of AUSTRAC information in court or tribunal proceedings 224
134........ Use of AUSTRAC information in court or tribunal proceedings .... 224
Part 12--Offences 225
135........ Simplified outline ............................................................................ 225
136........ False or misleading information ...................................................... 225
137........ Producing false or misleading documents ....................................... 226
138........ False documents .............................................................................. 227
139........ Providing a designated service using a false customer name or customer anonymity 228
140........ Receiving a designated service using a false customer name or customer anonymity 229
141........ Customer commonly known by 2 or more different names--disclosure to reporting entity 230
142........ Conducting transactions so as to avoid reporting requirements relating to threshold transactions 230
143........ Conducting transfers so as to avoid reporting requirements relating to cross-border movements of physical currency ........................................................................................................ 231
Part 13--Audit 233
Division 1--Introduction 233
144........ Simplified outline ............................................................................ 233
Division 2--Appointment of authorised officers and issue of identity cards 234
145........ Appointment of authorised officers ................................................. 234
146........ Identity cards ................................................................................... 234
Division 3--Powers of authorised officers 236
Subdivision A--Monitoring powers 236
147........ Authorised officer may enter premises by consent or under a monitoring warrant 236
148........ Monitoring powers of authorised officers ....................................... 236
149........ Tampering or interfering with things secured in the exercise of monitoring powers 238
Subdivision B--Powers of authorised officers to ask questions and seek production of documents 239
150........ Authorised officer may ask questions and seek production of documents 239
Division 4--Obligations and incidental powers of authorised officers 241
151........ Authorised officer must produce identity card on request ............... 241
152........ Consent ........................................................................................... 241
153........ Announcement before entry ............................................................ 241
154........ Details of monitoring warrant to be given to occupier etc. before entry 242
155........ Use of electronic equipment in exercising monitoring powers ........ 242
156........ Compensation for damage to electronic equipment ......................... 244
Division 5--Occupier's rights and responsibilities 245
157........ Occupier entitled to be present during execution of monitoring warrant .. 245
158........ Occupier to provide authorised officer with facilities and assistance 245
Division 6--Monitoring warrants 246
159........ Monitoring warrants ....................................................................... 246
160........ Magistrates--personal capacity ....................................................... 247
Division 7--External audits 248
161........ External audits--risk management etc. ............................................ 248
162........ External audits--compliance ........................................................... 250
163........ External auditor may have regard to the results of previous audit ... 252
164........ External auditors ............................................................................. 252
164A..... Review of decisions ........................................................................ 253
Division 8--Money laundering and terrorism financing risk assessments 254
165........ Money laundering and terrorism financing risk assessments .......... 254
Part 14--Information-gathering powers 256
166........ Simplified outline ............................................................................ 256
167........ Authorised officer may obtain information and documents ............. 256
168........ Copying documents--reasonable compensation ............................. 257
169........ Self-incrimination ............................................................................ 257
170........ Copies of documents ....................................................................... 258
171........ Authorised officer may retain documents ........................................ 258
172........ Division 400 and Chapter 5 of the Criminal Code .......................... 258
Part 15--Enforcement 259
Division 1--Introduction 259
173........ Simplified outline ............................................................................ 259
Division 2--Civil penalties 260
174........ Ancillary contravention of civil penalty provision ........................... 260
175........ Civil penalty orders ......................................................................... 260
176........ Who may apply for a civil penalty order ......................................... 262
177........ 2 or more proceedings may be heard together ................................. 262
178........ Time limit for application for an order ............................................. 262
179........ Civil evidence and procedure rules for civil penalty orders ............. 262
180........ Civil proceedings after criminal proceedings ................................... 262
181........ Criminal proceedings during civil proceedings ............................... 262
182........ Criminal proceedings after civil proceedings ................................... 263
183........ Evidence given in proceedings for penalty not admissible in criminal proceedings 263
Division 3--Infringement notices for certain contraventions 264
184........ When an infringement notice can be given ...................................... 264
185........ Matters to be included in an infringement notice ............................. 264
186........ Amount of penalty--breaches of subsection 53(3) or 59(4) ........... 265
186A..... Amount of penalty--breaches of certain provisions of Part 6 or Part 3A 266
187........ Withdrawal of an infringement notice ............................................. 267
188........ What happens if the penalty is paid ................................................. 267
189........ Effect of this Division on criminal and civil proceedings ................ 268
Division 4--Monitoring of compliance 269
190........ Monitoring of compliance ............................................................... 269
Division 5--Remedial directions 270
191........ Remedial directions ......................................................................... 270
191A..... Review of decisions ........................................................................ 270
Division 6--Injunctions 272
192........ Injunctions ...................................................................................... 272
193........ Interim injunctions .......................................................................... 272
194........ Discharge etc. of injunctions ........................................................... 273
195........ Certain limits on granting injunctions not to apply .......................... 273
196........ Other powers of the Federal Court unaffected ................................ 274
Division 7--Enforceable undertakings 275
197........ Acceptance of undertakings ............................................................ 275
198........ Enforcement of undertakings .......................................................... 276
Division 8--Powers of questioning, search and arrest in relation to cross-border movements of physical currency and bearer negotiable instruments 277
199........ Questioning and search powers in relation to physical currency ..... 277
200........ Questioning and search powers in relation to bearer negotiable instruments 280
201........ Arrest without warrant .................................................................... 285
Division 9--Notices to reporting entities 286
202........ Notices to reporting entities ............................................................. 286
203........ Contents of notices to reporting entities .......................................... 287
204........ Breaching a notice requirement ....................................................... 287
205........ Self-incrimination ............................................................................ 288
206........ Division 400 and Chapter 5 of the Criminal Code .......................... 288
207........ Disclosing existence or nature of notice .......................................... 288
Part 16--Administration 290
Division 1--Introduction 290
208........ Simplified outline ............................................................................ 290
Division 2--Establishment and function of AUSTRAC 291
209........ Establishment of AUSTRAC .......................................................... 291
210........ Function of AUSTRAC .................................................................. 291
Division 3--Chief Executive Officer of AUSTRAC 292
Subdivision A--Office and functions of the AUSTRAC CEO 292
211........ AUSTRAC CEO ............................................................................ 292
212........ Functions of the AUSTRAC CEO ................................................. 292
213........ Policy principles .............................................................................. 294
Subdivision B--Appointment of the AUSTRAC CEO etc. 294
214........ Appointment of the AUSTRAC CEO etc. ...................................... 294
215........ Remuneration and allowances of the AUSTRAC CEO .................. 295
216........ Leave of absence of the AUSTRAC CEO ...................................... 295
217........ Resignation of the AUSTRAC CEO .............................................. 295
218........ Notification of possible conflict of interest by the AUSTRAC CEO 295
219........ Termination of the AUSTRAC CEO's appointment ....................... 296
220........ Other terms and conditions ............................................................. 297
221........ Acting appointments ....................................................................... 297
222........ Delegation by the AUSTRAC CEO ............................................... 297
223........ Secretary may require the AUSTRAC CEO to give information .... 298
Division 4--Staff of AUSTRAC etc. 299
224........ Staff of AUSTRAC ........................................................................ 299
225........ Consultants and persons seconded to AUSTRAC .......................... 299
Division 5--Reports and information 300
226........ Annual report .................................................................................. 300
227........ Minister may require the AUSTRAC CEO to prepare reports or give information 300
Division 6--Directions by Minister 301
228........ Directions by Minister .................................................................... 301
Division 7--AML/CTF Rules 302
229........ AML/CTF Rules ............................................................................. 302
Part 17--Vicarious liability 303
230........ Simplified outline ............................................................................ 303
231........ Criminal liability of corporations ..................................................... 303
232........ Civil liability of corporations ........................................................... 303
233........ Liability of persons other than corporations .................................... 304
Part 18--Miscellaneous 305
234........ Simplified outline ............................................................................ 305
235........ Protection from liability ................................................................... 306
236........ Defence of taking reasonable precautions, and exercising due diligence, to avoid a contravention 306
237........ Treatment of partnerships ................................................................ 307
238........ Treatment of unincorporated associations ....................................... 308
239........ Treatment of trusts with multiple trustees ........................................ 308
240........ Concurrent operation of State and Territory laws ............................ 309
241........ Act not to limit other powers ........................................................... 309
242........ Law relating to legal professional privilege not affected .................. 309
243........ Validity of transactions ................................................................... 309
244........ Reports to the AUSTRAC CEO etc. ............................................... 310
245........ Arrangements with Governors of States etc. ................................... 310
246........ This Act does not limit other information-gathering powers ........... 311
247........ General exemptions ......................................................................... 311
248........ Exemptions and modifications by the AUSTRAC CEO ................. 312
249........ Specification by class ...................................................................... 313
250........ Schedule 1 (alternative constitutional basis) .................................... 313
251........ Review of operation of Act ............................................................. 313
252........ Regulations ..................................................................................... 313
Schedule 1--Alternative constitutional basis 315
1............ Alternative constitutional basis ........................................................ 315
Notes 319
Notes to
the
Anti-Money Laundering and
Counter-Terrorism Financing Act 2006 Note 1 The Anti-Money Laundering and Counter-Terrorism Financing
Act 2006 as shown in this
compilation
comprises Act No. 169, 2006 amended as indicated in the Tables below. The Anti-Money Laundering and Counter-Terrorism Financing
Act 2006 was amended by the Anti-Money Laundering and Counter-Terrorism
Financing Regulations 2008 (SLI 2008 No. 2). The amendment is incorporated
in this compilation. For application, saving or transitional provisions made by the
Freedom of Information Amendment (Reform) Act 2010, see Act No. 51,
2010. For all other relevant information pertaining to application,
saving or transitional provisions see Table A. Table of Acts
|
Act |
Number |
Date |
Date of commencement |
Application, saving or transitional provisions |
|
Anti-Money Laundering and Counter-Terrorism Financing Act 2006 |
169, 2006 |
12 Dec 2006 |
Ss. 1 and 2: Royal Assent |
|
|
Anti-Money Laundering and Counter-Terrorism Financing Amendment Act 2007 |
52, 2007 |
12 Apr 2007 |
Schedule 1 (items 2-13, 15-19, |
Sch. 1 (items |
|
Financial Sector Legislation Amendment (Simplifying Regulation and Review) Act 2007 |
154, 2007 |
24 Sept 2007 |
Schedule 1 (items 156, 157): 1 Jan 2008 |
Sch. 1 (item 296) |
|
First Home Saver Accounts (Consequential Amendments) Act 2008 |
45, 2008 |
25 June 2008 |
Schedule 3 (items 1-4): 26 June 2008 |
-- |
|
73, 2008 |
3 July 2008 |
Schedule 1 (item 5): (b) |
-- |
|
|
First Home Saver Accounts (Further Provisions) Amendment Act 2008 |
92, 2008 |
30 Sept 2008 |
Schedule 1 (items 1, 26): 1 Oct 2008 |
Sch. 1 (item 26) |
|
33, 2009 |
22 May 2009 |
Schedule 2 (item 5): 23 May 2009 |
-- |
|
|
Crimes Legislation Amendment (Serious and Organised Crime) Act (No. 2) 2010 |
4, 2010 |
19 Feb 2010 |
Schedule 5 (items 25-36): 20 Feb 2010 |
Sch. 5 (items 29, 31, 36) |
|
8, 2010 |
1 Mar 2010 |
Schedule 5 (items 4-9):
Royal Assent |
-- |
|
|
51, 2010 |
31 May 2010 |
Schedule 5 (item 1) and Schedule 7: (d) |
Sch. 7 [see Note 1] |
|
|
Trade Practices Amendment (Australian Consumer Law) Act (No. 2) 2010 |
103, 2010 |
13 July 2010 |
Schedule 6 (items 1, 21-23, 157, 158): 1 Jan 2011 |
-- |
|
National Security Legislation Amendment Act 2010 |
127, 2010 |
24 Nov 2010 |
Schedule 10 (items 2, 3): 25 Nov 2010 |
-- |
|
Tax Laws Amendment (Confidentiality of Taxpayer Information) Act 2010 |
145, 2010 |
16 Dec 2010 |
Schedule 2 (items 3, 4, 123(1)): 17 Dec 2010 |
Sch. 2 (item 123(1)) |
|
Law and Justice Legislation Amendment (Identity Crimes and Other Measures) Act 2011 |
3, 2011 |
2 Mar 2011 |
Schedule 4: 3 Mar 2011 |
Sch. 4 (item 8) |
|
Human Services Legislation Amendment Act 2011 |
32, 2011 |
25 May 2011 |
Schedule 4 (items 47-49): 1 July 2011 |
-- |
|
Acts Interpretation Amendment Act 2011 |
46, 2011 |
27 June 2011 |
Schedule 2 (items 67-72) and Schedule 3 (items 10, 11): 27 Dec 2011 |
Sch. 3 (items 10, 11) |
|
Australian Transaction Reports and Analysis Centre Supervisory Cost Recovery Levy (Consequential Amendments) Act 2011 |
56, 2011 |
28 June 2011 |
Schedule 1: 1 Nov
2011 (see F2011L02035) |
S. 4 and Sch. 2 (item 7) |
|
Combating the Financing of People Smuggling and Other Measures Act 2011 |
60, 2011 |
28 June 2011 |
Schedule 1 (items 1-11):
1 Nov 2011 (see F2011L02019) |
Sch. 1 (items |
|
Carbon Credits (Consequential Amendments) Act 2011 |
102, 2011 |
15 Sept 2011 |
Schedule 1 (items 1-4): 8 Dec 2011 (see s. 2(1)) |
-- |
|
Inspector-General of Intelligence and Security Amendment Act 2011 |
118, 2011 |
14 Oct 2011 |
Schedule 2: 15 Oct 2011 |
-- |
|
Clean Energy (Consequential Amendments) Act 2011 |
132, 2011 |
18 Nov 2011 |
Schedule 1 (items 1-3): 2 Apr 2012 (see s. 2(1)) |
-- |
(a) Subsection 2(1) (items 3 and 5) of the Anti-Money Laundering and Counter-Terrorism Financing Amendment Act 2007 provides as follows:
(1) Each provision of this Act specified in column 1 of the table commences, or is taken to have commenced, in accordance with column 2 of the table. Any other statement in column 2 has effect according to its terms.
|
Commencement information |
||
|
Column 1 |
Column 2 |
Column 3 |
|
Provision(s) |
Commencement |
Date/Details |
|
3. Schedule 1, item 14 |
Immediately after the commencement of section 42 of the Anti-Money Laundering and Counter-Terrorism Financing Act 2006. |
12 December 2008 |
|
5. Schedule 1, item 20 |
Immediately after the commencement of section 85 of the Anti-Money Laundering and Counter-Terrorism Financing Act 2006. |
12 December 2007 |
(b) Subsection 2(1) (item 6) of the Statute Law Revision Act 2008 provides as follows:
(1) Each provision of this Act specified in column 1 of the table commences, or is taken to have commenced, in accordance with column 2 of the table. Any other statement in column 2 has effect according to its terms.
|
Provision(s) |
Commencement |
Date/Details |
|
6. Schedule 1, item 5 |
Immediately after the commencement of section 130 of the Anti-Money Laundering and Counter-Terrorism Financing Act 2006. |
13 December 2006 |
(c) Subsection 2(1) (items 31 and 38) of the Statute Law Revision Act 2010 provides as follows:
(1) Each provision of this Act specified in column 1 of the table commences, or is taken to have commenced, in accordance with column 2 of the table. Any other statement in column 2 has effect according to its terms.
|
Provision(s) |
Commencement |
Date/Details |
|
31. Schedule 5, items 1 to 51 |
The day this Act receives the Royal Assent. |
1 March 2010 |
|
|
38. Schedule 5, Parts 2 and 3 |
Immediately after the provision(s) covered by table item 31. |
1 March 2010 |
|
(d) Subsection 2(1) (item 7) of the Freedom of Information Amendment (Reform) Act 2010 provides as follows:
(1) Each provision of this Act specified in column 1 of the table commences, or is taken to have commenced, in accordance with column 2 of the table. Any other statement in column 2 has effect according to its terms.
|
Provision(s) |
Commencement |
Date/Details |
|
7. Schedules 4 to 7 |
Immediately after the commencement of section 3 of the Australian Information Commissioner Act 2010. However, if section 3 of the Australian Information Commissioner Act 2010 does not commence, the provision(s) do not commence at all. |
1 November 2010 |
(e) Subsection 2(1) (items 2-4) of the Australian Transaction Reports and Analysis Centre Supervisory Cost Recovery Levy (Consequential Amendments) Act 2011 provides as follows:
(1) Each provision of this Act specified in column 1 of the table commences, or is taken to have commenced, in accordance with column 2 of the table. Any other statement in column 2 has effect according to its terms.
|
Provision(s) |
Commencement |
Date/Details |
|
2. Schedule 1 |
A single day to be fixed by Proclamation. However, if any of the provision(s) do not commence within the period of 6 months beginning on the day this Act receives the Royal Assent, they commence on the day after the end of that period. |
1 November 2011 (see F2011L02035) |
|
3. Schedule 2, Part 1 |
The later of: (a) the commencement of item 31 of Schedule 1 to the Combating the Financing of People Smuggling and Other Measures Act 2011; and (b) immediately after the commencement of the provision(s) covered by table item 2. However, the provision(s) do not commence at all unless both of the events mentioned in paragraphs (a) and (b) occur. |
1 November 2011 (paragraph (b) applies) |
|
4. Schedule 2, Part 2 |
Immediately after the commencement of the provision(s) covered by table item 2. |
1 November 2011 |
Table of Amendments
|
ad. = added or inserted am. = amended rep. = repealed rs. = repealed and substituted |
|
|
Provision affected |
How affected |
|
Part 1 |
|
|
Notes 2, 3 to s. 3(3).............. |
am. No. 8, 2010 |
|
am. No. 60, 2011 |
|
|
am. Nos. 52 and 154, 2007; Nos. 45 and 92, 2008; No. 33, 2009; Nos. 4, 8 and 103, 2010; Nos. 32, 56, 60, 102, 118 and 132, 2011 |
|
|
am. No. 52, 2007; SLI 2008 No. 2; No. 45, 2008; Nos. 4 and 103, 2010; Nos. 60, 102 and 132, 2011 |
|
|
am. No. 4, 2010 |
|
|
Part 2 |
|
|
Division 5A |
|
|
Div. 5A of Part 2.................... |
ad. No. 60, 2011 |
|
Ss. 35A-35H.......................... |
ad. No. 60, 2011 |
|
Ss. 35J-35L........................... |
ad. No. 60, 2011 |
|
Division 6 |
|
|
am. No. 60, 2011 |
|
|
Division 7 |
|
|
am. No. 60, 2011 |
|
|
Part 3 |
|
|
Division 2 |
|
|
am. No. 52, 2007; No. 60, 2011 |
|
|
Division 3 |
|
|
am. No. 60, 2011 |
|
|
Division 4 |
|
|
am. No. 4, 2010 |
|
|
Division 6 |
|
|
am. No. 60, 2011 |
|
|
S. 49A.................................... |
ad. No. 60, 2011 |
|
Part 3A |
|
|
Part 3A................................... |
ad. No. 56, 2011 |
|
Ss. 51A-51G......................... |
ad. No. 56, 2011 |
|
Part 4 |
|
|
Division 3 |
|
|
am. No. 4, 2010 |
|
|
Division 4 |
|
|
am. No. 3, 2011 |
|
|
Part 5 |
|
|
Division 3 |
|
|
am. No. 52, 2007 |
|
|
Division 4 |
|
|
am. No. 52, 2007 |
|
|
am. No. 52, 2007 |
|
|
Part 6 |
|
|
Heading to Part 6................. |
rs. No. 60, 2011 |
|
Division 1 |
|
|
Heading to Div. 1 of Part 6.. |
ad. No. 60, 2011 |
|
am. No. 60, 2011 |
|
|
Division 2 |
|
|
Heading to Div. 2 of Part 6.. |
ad. No. 60, 2011 |
|
Heading to s. 74................... |
am. No. 60, 2011 |
|
am. No. 60, 2011 |
|
|
Division 3 |
|
|
Div. 3 of Part 6...................... |
ad. No. 60, 2011 |
|
rs. No. 60, 2011 |
|
|
Ss. 75A-75H.......................... |
ad. No. 60, 2011 |
|
Ss. 75J-75N.......................... |
ad. No. 60, 2011 |
|
S. 75P.................................... |
ad. No. 60, 2011 |
|
Division 4 |
|
|
Div. 4 of Part 6...................... |
ad. No. 60, 2011 |
|
Ss. 75Q-75S......................... |
ad. No. 60, 2011 |
|
Division 5 |
|
|
Div. 5 of Part 6...................... |
ad. No. 60, 2011 |
|
S. 75T.................................... |
ad. No. 60, 2011 |
|
rep. No. 60, 2011 |
|
|
ad. No. 52, 2007 |
|
|
|
rep. No. 60, 2011 |
|
Part 7 |
|
|
Division 3 |
|
|
am. No. 60, 2011 |
|
|
am. No. 52, 2007 |
|
|
Part 11 |
|
|
Division 3 |
|
|
am. No. 52, 2007; No. 4, 2010; No. 60, 2011 |
|
|
am. No. 3, 2011 |
|
|
Division 4 |
|
|
Subdivision A |
|
|
am. No. 145, 2010 |
|
|
Subdivision B |
|
|
am. No. 52, 2007; No. 60, 2011 |
|
|
am. No. 52, 2007; No. 127, 2010; Nos. 3 and 60, 2011 |
|
|
Subdivision C |
|
|
am. No. 3, 2011 |
|
|
Note to s. 130(3)................... |
am. No. 73, 2008 |
|
am. No. 3, 2011 |
|
|
Subdivision D |
|
|
ad. No. 52, 2007 |
|
|
Ss. 133B, 133C...................... |
ad. No. 60, 2011 |
|
Part 12 |
|
|
am. No. 52, 2007 |
|
|
am. No. 52, 2007 |
|
|
Part 13 |
|
|
Division 2 |
|
|
am. No. 52, 2007 |
|
|
Division 7 |
|
|
Note 1 to s. 164(1)................ |
am. No. 46, 2011 |
|
ad. No. 52, 2007 |
|
|
Part 14 |
|
|
am. No. 60, 2011 |
|
|
Part 15 |
|
|
Division 3 |
|
|
Heading to Div. 3 of Part 15 |
rs. No. 60, 2011 |
|
am. Nos. 56 and 60, 2011 |
|
|
am. No. 60, 2011 |
|
|
Heading to s. 186................. |
am. No. 60, 2011 |
|
Heading to s. 186A............... |
am. No. 56, 2011 |
|
S. 186A.................................. |
ad. No. 60, 2011 |
|
|
am. No. 56, 2011 |
|
am. No. 60, 2011 |
|
|
Division 4 |
|
|
am. No. 60, 2011 |
|
|
Division 5 |
|
|
ad. No. 52, 2007 |
|
|
Division 7 |
|
|
am. No. 52, 2007; No. 8, 2010 |
|
|
Part 16 |
|
|
Division 3 |
|
|
Subdivision A |
|
|
am. No. 51, 2010 |
|
|
Subdivision B |
|
|
Note to s. 214(3)................... |
rs. No. 46, 2011 |
|
am. No. 46, 2011 |
|
|
Note to s. 221........................ |
ad. No. 46, 2011 |
|
Division 6 |
|
|
am. No. 52, 2007 |
|
|
Part 18 |
|
|
am. No. 8, 2010 |
|
|
am. No. 46, 2011 |
|
Table A
Application, saving or transitional provisions
Anti-Money Laundering and Counter-Terrorism Financing Amendment Act 2007 (No. 52, 2007)
Schedule 1
66 Application of amendment--section 71 of the Anti-Money Laundering and Counter-Terrorism Financing Act 2006
The amendment of subparagraph 71(b)(v) of the Anti-Money Laundering and Counter-Terrorism Financing Act 2006 made by this Schedule applies in relation to an electronic funds transfer instruction given after the commencement of this item.
67 AAT review of decisions made under section 161 of the Anti-Money Laundering and Counter-Terrorism Financing Act 2006
(1) Section 164A of the Anti-Money Laundering and Counter-Terrorism Financing Act 2006 applies in relation to a decision made under section 161 of that Act before, at or after the commencement of this item.
(2) If, apart from this subitem, the prescribed time for the purposes of the application of paragraph 29(1)(d) of the Administrative Appeals Tribunal Act 1975 to a decision made under section 161 of the Anti-Money Laundering and Counter-Terrorism Financing Act 2006 before the commencement of this item would end before that commencement, that prescribed time is taken, for those purposes, to be the period:
(a) beginning on the day on which the decision is made; and
(b) ending on the 28th day after the day on which this item commences.
68 AAT review of decisions made under section 191 of the Anti-Money Laundering and Counter-Terrorism Financing Act 2006
(1) Section 191A of the Anti-Money Laundering and Counter-Terrorism Financing Act 2006 applies in relation to a decision made under section 191 of that Act before, at or after the commencement of this item.
(2) If, apart from this subitem, the prescribed time for the purposes of the application of paragraph 29(1)(d) of the Administrative Appeals Tribunal Act 1975 to a decision made under section 191 of the Anti-Money Laundering and Counter-Terrorism Financing Act 2006 before the commencement of this item would end before that commencement, that prescribed time is taken, for those purposes, to be the period:
(a) beginning on the day on which the decision is made; and
(b) ending on the 28th day after the day on which this item commences.
Financial Sector Legislation Amendment (Simplifying Regulation and Review) Act 2007 (No. 154, 2007)
Schedule 1
296 Regulations may prescribe matters
The Governor-General may make regulations prescribing matters of a transitional nature (including prescribing any saving or application provisions) in relation to the amendments or repeals made by this Schedule.
First Home Saver
Accounts (Further Provisions) Amendment Act 2008
(No. 92,
2008)
Schedule 1
26 Application
The amendments made by this Schedule apply from 1 October 2008.
Crimes Legislation Amendment (Serious and Organised Crime) Act (No. 2) 2010 (No. 4, 2010)
Schedule 5
29 Application
The amendments of section 6 of the Anti-Money Laundering and Counter-Terrorism Financing Act 2006 made by this Part apply in relation to the provision of designated services on or after the commencement of this Part.
31 Transitional provisions for AML/CTF Rules
(1) This item applies if, immediately before the commencement of this Part, a provision of the AML/CTF Rules specified a person for the purposes of subparagraph 10(1)(a)(v) or (b)(v) of the Anti-Money Laundering and Counter-Terrorism Financing Act 2006 (as in force immediately before that commencement).
(2) The provision has effect as if it specified the person for the purposes of paragraph (e) of the definition of non-financier in section 5 of that Act as amended by this Part.
(3) This item does not prevent the amendment or repeal of those rules so as to affect the provision.
36 Application
Subsection 123(3) of the Anti-Money Laundering and Counter-Terrorism Financing Act 2006, as amended by this Part, applies in relation to requirements made under subsection 49(1) of that Act before, on or after the commencement of this item.
Tax Laws Amendment (Confidentiality of Taxpayer
Information) Act 2010
(No. 145, 2010)
Schedule 2
123 Application of amendments
(1) The amendments made by items 3, 4 and 93 of this Schedule apply to records and disclosures made on or after the commencement of those items (whenever the information was obtained).
Law and Justice Legislation Amendment (Identity Crimes and Other Measures) Act 2011 (No. 3, 2011)
Schedule 4
8 Application
(1) The amendments of section 62 of the Anti-Money Laundering and Counter-Terrorism Financing Act 2006 made by this Schedule apply in relation to aircraft or ships leaving a place outside Australia on or after the commencement of this item.
(2) The amendment of section 124 of the Anti-Money Laundering and Counter-Terrorism Financing Act 2006 made by this Schedule applies in relation to court or tribunal proceedings instituted on or after the commencement of this item.
(3) The amendment of section 128 of the Anti-Money Laundering and Counter-Terrorism Financing Act 2006 made by this Schedule applies in relation to information obtained under section 16 of the Financial Transaction Reports Act 1988 before, on or after the commencement of this item.
(4) The amendments of sections 130 and 131 of the Anti-Money Laundering and Counter-Terrorism Financing Act 2006 made by this Schedule apply in relation to AUSTRAC information obtained before, on or after the commencement of this item.
Acts Interpretation Amendment Act 2011 (No. 46, 2011)
Schedule 3
10 Saving--appointments
The amendments made by Schedule 2 do not affect the validity of an appointment that was made under an Act before the commencement of this item and that was in force immediately before that commencement.
11 Transitional regulations
The Governor-General may make regulations prescribing matters of a transitional nature (including prescribing any saving or application provisions) relating to the amendments and repeals made by Schedules 1 and 2.
Australian Transaction Reports and Analysis Centre
Supervisory Cost Recovery Levy (Consequential Amendments) Act 2011
(No. 56,
2011)
4 Review of operation of AUSTRAC cost recovery levy
(1) The Minister must cause an independent review of the operation of the levy imposed by the Australian Transaction Reports and Analysis Centre Supervisory Cost Recovery Levy Act 2011 to be undertaken as soon as possible after the second anniversary of the commencement of section 3 of that Act.
(2) The person who undertakes the review must give the Minister a written report of the review within 6 months after the second anniversary of the commencement of section 3 of the Australian Transaction Reports and Analysis Centre Supervisory Cost Recovery Levy Act 2011.
(3) The Minister must cause a copy of the report of the review to be tabled in each House of Parliament within 15 sitting days of receiving it.
(4) A report prepared under subsection (1) must include but is not limited to:
(a) a review of the levy calculation methodology;
(b) consultation with industry participants including small and micro businesses about the impact of the levy and the costs of complying with the Australian Transaction Reports and Analysis Centre Supervisory Cost Recovery Levy Act 2011.
Schedule 2
7 Transitional
(1) If this item commences before the commencement of Part 1 of this Schedule, Division 3 of Part 15 of the Anti-Money Laundering and Counter-Terrorism Financing Act 2006 applies with the modifications set out in this item for the period:
(a) beginning immediately after the commencement of this item; and
(b) ending just before the commencement of Part 1 of this Schedule.
(2) Treat a reference in that Division to "subsection 53(3) or 59(4)" as a reference to "subsection 51B(1), 51F(1), 53(3) or 59(4)".
(3) Assume the following subsection was added at the end of section 185 of that Act:
(2) An infringement notice may specify more than one alleged contravention of one or more of the provisions referred to in subsection 184(1). If it does so, the infringement notice must set out the details referred to in paragraph (1)(c) in relation to each alleged contravention.
(4) Assume that the following section was inserted after section 186 of that Act:
186A Amount of penalty--breaches of certain provisions of Part 3A
The penalty to be specified in an infringement notice for an alleged contravention of subsection 51B(1) or 51F(1) must be:
(a) for an alleged contravention by a body corporate--a pecuniary penalty equal to 60 penalty units; and
(b) for an alleged contravention by a person other than a body corporate--12 penalty units.
Combating the Financing of People Smuggling and Other Measures Act 2011 (No. 60, 2011)
Schedule 1
49 Ongoing customer due diligence
If an obligation is imposed by subsection 36(1) of the Anti-Money Laundering and Counter-Terrorism Financing Act 2006:
(a) on or after the day on which this Act receives the Royal Assent; and
(b) on a reporting entity:
(i) that provides a designated service covered by item 31 or 32 of table 1 in section 6 of that Act; and
(ii) that provides that service as part of a network of persons referred to in item 32A of that table operated by another reporting entity;
that obligation may be discharged by that other reporting entity.
50 AML/CTF Rules may make provision in relation to reports by certain reporting entities
(1) The AML/CTF Rules may make provision for and in relation to reports required by Part 3 of the Anti-Money Laundering and Counter-Terrorism Financing Act 2006 to be given, on or after the day on which this Act receives the Royal Assent, by a reporting entity (the remittance affiliate):
(a) that provides a designated service covered by item 31 or 32 of table 1 in section 6 of that Act; and
(b) that provides that service as part of a network of persons referred to in item 32A of that table operated by another reporting entity (the remittance network provider).
(2) Without limiting subitem (1), the AML/CTF Rules may provide:
(a) that an obligation imposed by that Part upon the remittance affiliate to provide a report is taken instead, or in addition, to be an obligation imposed upon the remittance network provider; and
(b) that an obligation imposed by this Part on the remittance affiliate may be discharged by the remittance network provider; and
(c) that a report required to be provided as mentioned in paragraph (a) must, or may, be given by the remittance network provider in the manner specified in the AML/CTF Rules.
51 Tipping off
(1) Subsection 123(2) of the Anti-Money Laundering and Counter-Terrorism Financing Act 2006 does not apply to the disclosure of information by a reporting entity on or after the day on which this Act receives the Royal Assent if:
(a) the reporting entity is an entity:
(i) that provides a designated service covered by item 31 or 32 of table 1 in section 6 of that Act; and
(ii) that provides that service as part of a network of persons referred to in item 32A of that table operated by another reporting entity; and
(b) the disclosure is made to that other reporting entity.
(2) Subsection 123(2) of the Anti-Money Laundering and Counter-Terrorism Financing Act 2006 does not apply to the disclosure of information by a reporting entity on or after the day on which this Act receives the Royal Assent if:
(a) the reporting entity provides a designated service covered by item 32A of table 1 in section 6 of that Act; and
(b) the disclosure is made to a customer of that designated service.
52 Application of the reporting entity provisions of the new law to remittance network providers
(1) The following provisions of the Anti-Money Laundering and Counter-Terrorism Financing Act 2006 do not apply, until 12 months after the day on which this Act receives the Royal Assent, to a reporting entity in its capacity as an entity that provides a designated service covered by item 32A of table 1 in section 6 of that Act:
(a) Part 2 (which deals with identification procedures);
(b) Division 5 of Part 3 (which deals with compliance reports);
(c) Part 7 (which deals with AML/CTF programs);
(d) Divisions 3 and 5 of Part 10 (which deal with record keeping).
(2) Subject to this Part and Part 4, the remaining provisions of the Anti-Money Laundering and Counter-Terrorism Financing Act 2006 apply, on and after the day on which this Act receives the Royal Assent, to such a reporting entity.
53 Continuation of old law for certain purposes relating to the old Register
(1) The Anti-Money Laundering and Counter-Terrorism Financing Act 2006 is taken to continue in operation after the registration commencement day for the purposes of this item.
(2) After the registration commencement day:
(a) the old Register is taken to continue in existence; and
(b) subject to this item, the AUSTRAC CEO must maintain the old Register.
(3) Despite subitems (1) and (2):
(a) except with the consent of the AUSTRAC CEO, an application cannot be made for a person's name and registrable details to be entered on the old Register after the registration commencement day; and
(b) the AUSTRAC CEO may enter a person's name and registrable details on the old Register after the registration commencement day only if an application has been made with the consent of the AUSTRAC CEO.
(4) The AUSTRAC CEO must not give consent as mentioned in paragraph (3)(a) unless he or she is satisfied that it is appropriate to do so, having regard to the matters (if any) specified in the Rules.
(5) The AUSTRAC CEO may cancel a person's registration on the old Register if the AUSTRAC CEO is satisfied that not to do so would involve a significant money laundering, financing of terrorism or people smuggling risk.
(6) The AUSTRAC CEO must remove a person's name and registrable details from the old Register if:
(a) an application is made under the new law for registration of the person and the application is finally determined; or
(b) the person's registration is cancelled under subitem (5).
(7) A decision to refuse consent under paragraph (3)(a) and a decision to cancel a person's registration under subitem (5) are taken to be reviewable decisions within the meaning of section 5 of the new law.
54 Cessation of Register
The AUSTRAC CEO ceases to be required to maintain the old Register, and the old Register ceases to have effect, when the AUSTRAC CEO has finally determined all applications made by, or in relation to, the following:
(a) persons:
(i) whose names and registrable details were entered on the old Register as at, or after, the registration commencement day; and
(ii) who made an application, under the new law, for registration as an independent remittance dealer during the period of 6 months commencing on the registration commencement day;
(b) persons:
(i) whose names and registrable details were on the old Register as at, or after, the registration commencement day; and
(ii) in relation to whom an application was made, under the new law, for registration as a remittance affiliate of a registered remittance network provider during the period of 12 months commencing on the registration commencement day.
Note: Under item 55, persons entered on the old Register have 6 months for an application to be made for registration as an independent remittance dealer, and 12 months for an application to be made for registration as a remittance affiliate of a registered remittance network provider.
55 Modifications of new law for certain purposes
Registrable remittance network services--persons who were providing such services immediately before commencement have 12 months to apply for registration
(1) Subsection 74(1) of the new law does not apply to the provision of a registrable remittance network service by a person on or after the registration commencement day if:
(a) immediately before the registration commencement day, the person was providing a service of that kind; and
(b) either:
(i) the service was provided during the period of 12 months beginning on the registration commencement day; or
(ii) during the period of 12 months beginning on the registration commencement day, the person made an application under the new law for registration as a remittance network provider, and the application had not been finally determined at the service provision time.
Registrable designated remittance services--persons entered on old Register have 6 months to apply for registration as an independent remittance dealer
(2) Subsection 74(1A) of the new law does not apply to the provision of a registrable designated remittance service by a person on or after the registration commencement day if:
(a) when the service was provided, the person's name and registrable details were entered on the old Register as continued in existence by item 53 of this Schedule; and
(b) either:
(i) the service was provided during the period of 6 months beginning on the registration commencement day; or
(ii) during the period of 6 months beginning on the registration commencement day, the person made an application under the new law for registration as an independent remittance dealer, and the application had not been finally determined when the service was provided.
Registrable designated remittance services provided by persons entered on old Register--persons entered on old Register have 12 months to apply for registration as a remittance affiliate
(3) Subsection 74(1B) of the new law does not apply to the provision of a designated remittance service by a person on or after the registration commencement day if:
(a) when the service was provided, the person's name and registrable details were entered on the old Register as continued in existence by item 53 of this Schedule; and
(b) either:
(i) the service was provided during the period of 12 months beginning on the registration commencement day; or
(ii) during the period of 12 months beginning on the registration commencement day, an application for registration of the person as a remittance affiliate of a registered remittance network provider was made under the new law, and the application had not been finally determined when the service was provided.
56 Continuation of certain provisions of the old law
(1) Section 79A of the Anti-Money Laundering and Counter-Terrorism Financing Act 2006, as in force immediately before the registration commencement day, continues in operation, on and after the registration commencement day, in relation to proceedings in respect of a provision of that Act, as if it had not been repealed.
(2) Section 167 of the of the Anti-Money Laundering and Counter-Terrorism Financing Act 2006 has effect, on and after the registration commencement day, as if the reference in that section to the Remittance Sector Register included a reference to the old Register.
57 Definitions
(1) In this Part:
new law means the Anti-Money Laundering and Counter-Terrorism Financing Act 2006 as in force after the registration commencement day.
old Register means the Register of Providers of Designated Remittance Services within the meaning of the Anti-Money Laundering and Counter-Terrorism Financing Act 2006, as in force immediately before the registration commencement day.
registration commencement day means the day on which item 1 of this Schedule commences.
(2) For the purposes of this Division, an application for registration of a person is finally determined when:
(a) a decision has been made to register or not to register the person under the new law; and
(b) all reviews and appeal rights that apply in relation to the decision have been exhausted.
58 Transitional regulations
Regulations may be made prescribing matters of a transitional nature (including prescribing any saving or application provisions) relating to the amendments or repeals made by this Act.