Commonwealth Consolidated Acts

ANTI-MONEY LAUNDERING AND COUNTER-TERRORISM FINANCING ACT 2006 - SECT 186A

Infringement notice--bodies corporate

             (1)  The penalty to be specified in an infringement notice for an alleged contravention of subsection 74(1), (1A), (1B), or (1C) or 75M(1) (a Part 6 infringement notice provision ) or subsection 51B(1) or 51F(1) (a Part 3A infringement notice provision ) by a body corporate must be a pecuniary penalty equal to:

                     (a)  if the alleged contravention is of a kind specified in the AML/CTF Rules under subsection (3)--the number of penalty units specified in the AML/CTF Rules in relation to that kind of contravention; or

                     (b)  otherwise--60 penalty units.

Infringement notice--persons other than bodies corporate

             (2)  The penalty to be specified in an infringement notice for an alleged contravention of a Part 6 infringement notice provision or a Part 3A infringement notice provision by a person other than a body corporate must be a pecuniary penalty equal to:

                     (a)  if the alleged contravention is of a kind specified in the AML/CTF Rules under subsection (3)--the number of penalty units specified in the AML/CTF Rules in relation to that kind of contravention; or

                     (b)  otherwise--12 penalty units.

AML/CTF Rules may specify penalty units

             (3)  For the purposes of paragraphs (1)(a) and (2)(a), the AML/CTF Rules may:

                     (a)  set out one or more kinds of alleged contraventions of a Part 6 infringement notice provision or a Part 3A infringement notice provision; and

                     (b)  for each kind of contravention set out in the AML/CTF Rules--specify a particular number of penalty units that applies.

             (4)  Without limiting the kinds of contraventions that may be specified in the AML/CTF Rules made under paragraph (3)(a), the contraventions may be described by reference to the following:

                     (a)  whether an alleged contravention is one of a number of alleged contraventions of a Part 6 infringement notice provision or a Part 3A infringement notice provision specified in a particular infringement notice;

                     (b)  whether a person alleged to have contravened one or more Part 6 infringement notice provisions or Part 3A infringement notice provisions has previously been given an infringement notice in relation to an alleged contravention of a Part 6 infringement notice provision or a Part 3A infringement notice provision.

             (5)  The number of penalty units specified in AML/CTF Rules made under paragraph (3)(b) in relation to a particular kind of contravention must not exceed:

                     (a)  in the case of an alleged contravention by a body corporate--120 penalty units; or

                     (b)  in the case of an alleged contravention by a person other than a body corporate--24 penalty units.