Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) The AUSTRAC CEO is to monitor, and report to the Minister on, compliance by reporting entities with their obligations under this Act, the regulations and the AML/CTF Rules.
(2) If:
(a) the AUSTRAC CEO has reasonable grounds to believe that a reporting entity has breached any of its obligations under this Act, the regulations or the AML/CTF Rules; and
(b) the AUSTRAC CEO is satisfied that the breach is relevant to the performance of the functions, or the exercise of the powers, of an Australian government body; and
(c) the AUSTRAC CEO has given the Minister a report about the breach;
the AUSTRAC CEO may give the body a copy of that report.
(2A) Subsection (1) does not require the AUSTRAC CEO to monitor, and report individually upon, each reporting entity that is registered under Part 6 of this Act, but the AUSTRAC CEO must monitor and report generally upon those reporting entities.
(3) An action, suit or proceeding (whether criminal or civil) does not lie against:
(a) the Commonwealth; or
(b) the AUSTRAC CEO; or
(c) a member of the staff of AUSTRAC;
in relation to any action taken under this section by way of:
(d) the giving of a report; or
(e) the giving of a copy of a report.
(4) Subsection (2) does not limit section 125.