Commonwealth Consolidated Regulations Commonwealth Consolidated Regulations(1) The Act applies to countries that are parties to the Money-Laundering Convention subject to the convention, a copy of which is set out in Schedule 1.
Note The Act may also apply to some of the parties to the Money-Laundering Convention subject to bilateral or other multilateral agreements. For matters within the scope of the convention, article 39 determines the relationship between the convention and the other agreements.
(2) A copy of Australia's instrument of ratification of the Money-Laundering Convention, with reservations, is set out in Schedule 2.
N ote Article 40 of the Money-Laundering Convention allows the parties to ratify the convention subject to reservations. The effect of subsection 7 (3) of the Act is that the Act applies subject to the reservations in Australia's instrument of ratification.