Commonwealth Consolidated Acts

AUSTRALIAN TRANSACTION REPORTS AND ANALYSIS CENTRE SUPERVISORY COST RECOVERY LEVY (CONSEQUENTIAL AMENDMENTS) ACT 2011 - SCHEDULE 2

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".

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 b efore 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.

Notes to the Australian Transaction Reports and Analysis Centre Supervisory Cost Recovery Levy (Consequential Amendments) Act 2011

Note 1

The Australian Transaction Reports and Analysis Centre Supervisory Cost Recovery Levy (Consequential Amendments) Act 2011 as shown in this compilation comprises Act No.   56, 2011 amended as indicated in the Tables below.

Table of Acts

Table of Amendments