Australian Capital Territory Repealed Acts

This legislation has been repealed.

PROCEEDS OF CRIME ACT 1991 NO 103 (REPEALED) - SECT 74

    (1)         In this section:

"transaction" includes the receiving or making of a gift.

    (2)         A person who, after the commencement of this Act, engages in money laundering commits an offence.

Maximum penalty: 1 000 penalty units, imprisonment for 10 years or both.

    (3)         A person shall be taken to engage in money laundering only if—

        (a)     the person engages, directly or indirectly, in a transaction that involves money, or other property, that is proceeds of crime; or

        (b)     the person receives, possesses, conceals, disposes of or brings into the ACT any money, or other property, that is proceeds of crime;

and the person knows, or ought reasonably to know, that the money or other property is derived or realised, directly or indirectly, from some form of unlawful activity.