Commonwealth Consolidated Acts

AUSTRALIAN TRANSACTION REPORTS AND ANALYSIS CENTRE INDUSTRY CONTRIBUTION (COLLECTION) ACT 2011 - SECT 8

  (1)   An instalment of levy payable by a person for a financial year is due and payable on a business day that is:

  (a)   specified in a notice that the AUSTRAC CEO gives to the person in relation to the instalment; and

  (b)   not earlier than 30 days after the beginning of the financial year; and

  (c)   not earlier than 30 days after the day on which the notice is given.

  (2)   If the person nominates another person by written notice given to the AUSTRAC CEO:

  (a)   the notice under paragraph   (1)(a) of this section may be given to the nominated person; and

  (b)   the obligation imposed on the person by subsection   (1) of this section may be discharged by the nominated person.

  (3)   To avoid doubt, subsection   (2) does not otherwise affect the person's liability under section   7.