Anti-Money Laundering and Counter-Terrorism Financing Amendment Act 2017 (130 of 2017)

Schedule 1   Amendments

Part 5   Investigation and enforcement

Anti-Money Laundering and Counter-Terrorism Financing Act 2006

60   After subsection 184(1A)

Insert:

(1B) Despite subsection (1), an infringement notice relating to the alleged contravention of a designated infringement notice provision may only be given to a person by the AUSTRAC CEO.

(1C) The AUSTRAC CEO must not issue an infringement notice relating to a contravention of subsection 32(1), 41(2), 43(2), 45(2) or 49(2) unless the AUSTRAC CEO considers that issuing such a notice is appropriate in the particular case after taking into account:

(a) the nature and extent of the contravention; and

(b) the seriousness of the contravention; and

(c) the circumstances in which the contravention took place; and

(d) any other matter the AUSTRAC CEO considers to be relevant.