AUSTRALIAN TRANSACTION REPORTS AND ANALYSIS CENTRE SUPERVISORY COST RECOVERY LEVY (CONSEQUENTIAL AMENDMENTS) BILL 2011

2010-2011

The Parliament of the

Commonwealth of Australia

HOUSE OF REPRESENTATIVES

Presented and read a first time

Australian Transaction Reports and

Analysis Centre Supervisory Cost

Recovery Levy (Consequential

Amendments) Bill 2011

No. , 2011

(Attorney-General)

A Bill for an Act to deal with consequential matters

relating to the enactment of the Australian

Transaction Reports and Analysis Centre Supervisory

Cost Recovery Levy Act 2011, and for related

purposes

i Australian Transaction Reports and Analysis Centre Supervisory Cost Recovery Levy

(Consequential Amendments) Bill 2011 No. , 2011

Contents

1 Short

title

...........................................................................................

2 Commencement

.................................................................................

3 Schedule(s)

........................................................................................

Schedule 1--Amendment of the Anti-Money Laundering and

Counter-Terrorism Financing Act 2006

Schedule 2--Infringement notice provisions

Part 1--Amendments

Anti-Money Laundering and Counter-Terrorism Financing Act 2006

Part 2--Transitional provision

Australian Transaction Reports and Analysis Centre Supervisory Cost Recovery Levy

(Consequential Amendments) Bill 2011 No. , 2011 1

A Bill for an Act to deal with consequential matters

relating to the enactment of the Australian

Transaction Reports and Analysis Centre Supervisory

Cost Recovery Levy Act 2011, and for related

purposes

The Parliament of Australia enacts:

1 Short title

This Act may be cited as the Australian Transaction Reports and

Analysis Centre Supervisory Cost Recovery Levy (Consequential

Amendments) Act 2011.

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(Consequential Amendments) Bill 2011 No. , 2011

2 Commencement

(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

1. Sections 1 to 3

and anything in

this Act not

elsewhere covered

by this table

The day this Act receives the Royal Assent.

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.

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.

4. Schedule 2,

Part 2

Immediately after the commencement of the

provision(s) covered by table item 2.

Note:

This table relates only to the provisions of this Act as originally

enacted. It will not be amended to deal with any later amendments of

this Act.

(2) Any information in column 3 of the table is not part of this Act.

Information may be inserted in this column, or information in it

may be edited, in any published version of this Act.

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3 Schedule(s)

Each Act that is specified in a Schedule to this Act is amended or

repealed as set out in the applicable items in the Schedule

concerned, and any other item in a Schedule to this Act has effect

according to its terms.

Schedule 1 Amendment of the Anti-Money Laundering and Counter-Terrorism

Financing Act 2006

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Schedule 1--Amendment of the Anti-Money

Laundering and Counter-Terrorism

Financing Act 2006

1 Section 5

Insert:

enrolment details, in relation to a person, means such information

relating to the person as is specified in the AML/CTF Rules.

2 After Part 3

Insert:

Part 3A--Reporting Entities Roll

51A Simplified outline

The following is a simplified outline of this Part:

�

Providers of designated services must be entered on the

Reporting Entities Roll.

51B Reporting entities must enrol

(1) If a person's name is not entered on the Reporting Entities Roll, the

person must:

(a) if the person provided a designated service during the period

of 28 days before the commencement of this section--apply

in writing to the AUSTRAC CEO under subsection 51E(1)

within 28 days after the commencement of this section; or

(b) if the person commences to provide a designated service after

the commencement of this section--apply in writing to the

AUSTRAC CEO under subsection 51E(1) within 28 days

after commencing to provide the designated service.

(2) Subsection (1) does not apply if the person:

Amendment of the Anti-Money Laundering and Counter-Terrorism Financing Act 2006

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(a) has applied under subsection 51E(1) in relation to the

provision of another designated service; and

(b) has not since requested under section 51G that the

AUSTRAC CEO remove the person's name and enrolment

details from the Reporting Entities Roll.

Civil penalty

(3) Subsection (1) is a civil penalty provision.

51C Reporting Entities Roll

(1) The AUSTRAC CEO must maintain a roll for the purposes of this

Part, to be known as the Reporting Entities Roll.

(2) The AUSTRAC CEO may maintain the Reporting Entities Roll by

electronic means.

(3) The Reporting Entities Roll is not a legislative instrument.

(4) The AML/CTF Rules may make provision for and in relation to

either or both of the following:

(a) the correction of entries in the Reporting Entities Roll;

(b) any other matter relating to the administration or operation of

the Reporting Entities Roll, including the removal of names

and enrolment details from the Reporting Entities Roll.

51D Enrolment

If a person applies to the AUSTRAC CEO under subsection 51E(1)

and the person's name is not already entered on the Reporting

Entities Roll, the AUSTRAC CEO must enter on the Reporting

Entities Roll:

(a) the person's name; and

(b) the person's enrolment details.

51E Applications for enrolment

(1) A person may apply in writing to the AUSTRAC CEO for

enrolment as a reporting entity.

(2) The application must:

Schedule 1 Amendment of the Anti-Money Laundering and Counter-Terrorism

Financing Act 2006

6 Australian Transaction Reports and Analysis Centre Supervisory Cost Recovery Levy

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(a) be in accordance with the approved form, or in a manner

specified in the AML/CTF Rules; and

(b) contain the information required by the AML/CTF Rules.

51F Enrolled persons to advise of change in enrolment details

(1) A person who is enrolled under this Part must advise the

AUSTRAC CEO, in accordance with subsection (2), of any change

in the person's enrolment details that is of a kind specified in the

AML/CTF Rules.

(2) A person who is required by subsection (1) to advise the

AUSTRAC CEO of a change in enrolment details must do so:

(a) within 14 days of the change arising; and

(b) in accordance with the approved form, or in a manner

specified in the AML/CTF Rules.

Civil penalty

(3) Subsection (1) is a civil penalty provision.

51G Removal of entries from the Reporting Entities Roll

(1) A person may, in writing, request the AUSTRAC CEO to remove

the person's name and enrolment details from the Reporting

Entities Roll.

(2) The request must:

(a) be in the approved form; and

(b) contain the information required by the AML/CTF Rules.

(3) The AUSTRAC CEO must consider the request and remove the

person's name and enrolment details from the Reporting Entities

Roll if the AUSTRAC CEO is satisfied that it is appropriate to do

so, having regard to:

(a) whether the person has ceased to provide designated services;

and

(b) the likelihood of the person providing a designated service in

the financial year beginning after the request is given; and

a report under any of the following provisions:

Amendment of the Anti-Money Laundering and Counter-Terrorism Financing Act 2006

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(i) section 43 (threshold transaction reports);

(ii) section 45 (international funds transfer instruction

reports);

(iii) section 47 (AML/CTF compliance reports).

Schedule 2 Infringement notice provisions

Part 1 Amendments

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Schedule 2--Infringement notice provisions

Part 1--Amendments

Anti-Money Laundering and Counter-Terrorism Financing

Act 2006

1 Before paragraph 184(1A)(a)

Insert:

(aaa) subsection 51B(1) (which deals with the requirement for

reporting entities to enrol on the Reporting Entities Roll);

(aa) subsection 51F(1) (which deals with reporting entities

notifying changes of their enrolment details);

2 Subsection 186A(1)

Before "by a body corporate", insert "or subsection 51B(1) or 51F(1) (a

Part 3A infringement notice provision)".

Note:

The heading to section 186A is altered by adding at the end "or Part 3A".

3 Subsection 186A(2)

After "Part 6 infringement notice provision", insert "or a Part 3A

infringement notice provision".

4 Paragraphs 186A(3)(a) and (4)(a)

After "Part 6 infringement notice provision", insert "or a Part 3A

infringement notice provision".

5 Paragraph 186A(4)(b)

After "Part 6 infringement notice provisions", insert "or Part 3A

infringement notice provisions".

6 Paragraph 186A(4)(b)

After "Part 6 infringement notice provision", insert "or a Part 3A

infringement notice provision".

Infringement notice provisions Schedule 2

Transitional provision Part 2

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(Consequential Amendments) Bill 2011 No. , 2011 9

Part 2--Transitional provision

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.

Commonwealth of Australia Bills

AUSTRALIAN TRANSACTION REPORTS AND ANALYSIS CENTRE SUPERVISORY COST RECOVERY LEVY (CONSEQUENTIAL AMENDMENTS) BILL 2011