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

73   At the end of section 199

Add:

Civil penalty

(12) If a person is subject to a requirement under subsection (1) or (2), the person must not engage in conduct that breaches the requirement.

(13) Subsection (12) is a civil penalty provision.

Currency of interest

(14) For the purposes of this section, physical currency may be of interest if the physical currency:

(a) may be relevant to the investigation of, or prosecution of a person for, an offence against a law of the Commonwealth or of a State or Territory; or

(b) may be of assistance in the enforcement of the Proceeds of Crime Act 2002 or regulations under that Act; or

(c) may be of assistance in the enforcement of a law of a State or Territory that corresponds to the Proceeds of Crime Act 2002 or regulations under that Act.