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

Schedule 1   Amendments

Part 7   Other regulatory matters

Anti-Money Laundering and Counter-Terrorism Financing Act 2006

84   After subsection 212(3)

Insert:

(3A) In considering an exemption or modification under or in relation to the operation of this Act that could reasonably be expected to have an impact on the risk associated with money laundering or the financing of terrorism as that risk applies to a designated service, the AUSTRAC CEO must be satisfied that the risk associated with the proposed exemption or modification is low.


Copyright notice

© Australian Taxation Office for the Commonwealth of Australia

You are free to copy, adapt, modify, transmit and distribute material on this website as you wish (but not in any way that suggests the ATO or the Commonwealth endorses you or any of your services or products).