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This is a Bill, not an Act. For current law, see the Acts databases.

AUSTRALIAN TRANSACTION REPORTS AND ANALYSIS CENTRE SUPERVISORY COST RECOVERY LEVY (COLLECTION) BILL 2011

2010-2011
The Parliament of the
Commonwealth of Australia
HOUSE OF REPRESENTATIVES
Presented and read a first time
Australian Transaction Reports and
Analysis Centre Supervisory Cost
Recovery Levy (Collection) Bill 2011
No. , 2011
(Attorney-General)
A Bill for an Act to provide for the collection of
levies imposed on persons regulated by the
Australian Transaction Reports and Analysis
Centre, and for related purposes
i Australian Transaction Reports and Analysis Centre Supervisory Cost Recovery Levy
(Collection) Bill 2011 No. , 2011
Contents
1 Short
title
...........................................................................................
1
2 Commencement
.................................................................................
2
3
Act binds the Crown .......................................................................... 2
4 External
Territories
............................................................................
2
5 Extraterritorial
application ................................................................. 2
6 Definitions
.........................................................................................
3
7
Liability to AUSTRAC cost recovery levy ........................................ 4
8
When levy due for payment ............................................................... 4
9 Late
payment
penalty
.........................................................................
4
10
Payment of levy and late payment penalty ........................................ 5
11
Waiver of levy and late payment penalty ........................................... 5
12
Recovery of levy and late payment penalty ....................................... 5
13 Exempting
laws
ineffective ............................................................... 5
14 Internal
review
of
certain decisions ................................................... 6
15 Administrative
Appeals
Tribunal
review of certain decisions ........... 7
16 Regulations
........................................................................................
7
Australian Transaction Reports and Analysis Centre Supervisory Cost Recovery Levy (Collection)
Bill 2011 No. , 2011 1
A Bill for an Act to provide for the collection of
1
levies imposed on persons regulated by the
2
Australian Transaction Reports and Analysis
3
Centre, and for related purposes
4
The Parliament of Australia enacts:
5
1 Short title
6
This Act may be cited as the Australian Transaction Reports and
7
Analysis Centre Supervisory Cost Recovery Levy (Collection) Act
8
2011.
9
Section 2
2 Australian Transaction Reports and Analysis Centre Supervisory Cost Recovery Levy
(Collection) Bill 2011 No. , 2011
2 Commencement
1
(1) Each provision of this Act specified in column 1 of the table
2
commences, or is taken to have commenced, in accordance with
3
column 2 of the table. Any other statement in column 2 has effect
4
according to its terms.
5
6
Commencement information
Column 1
Column 2
Column 3
Provision(s)
Commencement
Date/Details
1. Sections 1 and
2 and anything in
this Act not
elsewhere covered
by this table
The day this Act receives the Royal Assent.
2. Sections 3 to
16
At the same time as section 3 of the
Australian Transaction Reports and Analysis
Centre Supervisory Cost Recovery Levy Act
2011 commences.
Note:
This table relates only to the provisions of this Act as originally
7
enacted. It will not be amended to deal with any later amendments of
8
this Act.
9
(2) Any information in column 3 of the table is not part of this Act.
10
Information may be inserted in this column, or information in it
11
may be edited, in any published version of this Act.
12
3 Act binds the Crown
13
This Act binds the Crown in each of its capacities.
14
4 External Territories
15
This Act extends to every external Territory.
16
5 Extraterritorial application
17
This Act extends to acts, omissions, matters and things outside
18
Australia.
19
Section 6
Australian Transaction Reports and Analysis Centre Supervisory Cost Recovery Levy (Collection)
Bill 2011 No. , 2011 3
6 Definitions
1
(1) In this Act:
2
AUSTRAC has the same meaning as in the Anti-Money
3
Laundering and Counter-Terrorism Financing Act 2006.
4
AUSTRAC CEO has the same meaning as in the Anti-Money
5
Laundering and Counter-Terrorism Financing Act 2006.
6
business day means a day that is not a Saturday, a Sunday, a public
7
holiday or a bank holiday in the place concerned.
8
late payment penalty means penalty payable under section 9.
9
leviable entity, in relation to a financial year, has the same meaning
10
as in the Australian Transaction Reports and Analysis Centre
11
Supervisory Cost Recovery Levy Act 2011.
12
levy means levy imposed by the Australian Transaction Reports
13
and Analysis Centre Supervisory Cost Recovery Levy Act 2011.
14
levy month means one of the 12 months of the calendar year.
15
person has the same meaning as in the Anti-Money Laundering and
16
Counter-Terrorism Financing Act 2006.
17
(2) This Act applies to a partnership, unincorporated association or
18
trust as if the partnership, unincorporated association or trust were
19
a person, but with the following changes:
20
(a) an obligation that would otherwise be imposed on the
21
partnership by this Act is imposed on each partner instead,
22
but may be discharged by any of the partners;
23
(b) an obligation that would otherwise be imposed on the
24
association by this Act is imposed on each member of the
25
association's committee of management instead, but may be
26
discharged by any of the members;
27
(c) an obligation that would otherwise be imposed on the trust by
28
this Act is imposed on each trustee instead, but may be
29
discharged by any of the trustees.
30
Section 7
4 Australian Transaction Reports and Analysis Centre Supervisory Cost Recovery Levy
(Collection) Bill 2011 No. , 2011
7 Liability to AUSTRAC cost recovery levy
1
A person who is a leviable entity for a financial year that ends after
2
the commencement of the Australian Transaction Reports and
3
Analysis Centre Supervisory Cost Recovery Levy Act 2011 is liable
4
to pay levy in respect of that financial year.
5
8 When levy due for payment
6
(1) Levy payable by a person for a financial year under section 7 is
7
due and payable on a business day that is:
8
(a) specified in a notice that the AUSTRAC CEO gives to the
9
person in relation to the financial year; and
10
(b) not earlier than 30 days after the beginning of the financial
11
year; and
12
(c) not earlier than 30 days after the day on which the notice is
13
given.
14
(2) If the person nominates another person by written notice given to
15
the AUSTRAC CEO:
16
(a) the notice under paragraph (1)(a) of this section may be given
17
to the nominated person; and
18
(b) the obligation imposed on the person by subsection (1) of this
19
section may be discharged by the nominated person.
20
(3) To avoid doubt, subsection (2) does not otherwise affect the
21
person's liability under section 7.
22
9 Late payment penalty
23
(1) If any levy payable by a person remains unpaid at the start of a
24
levy month after the levy became due for payment, the person is
25
liable to pay the Commonwealth, for that levy month, a penalty
26
worked out using the following formula:
27
0.2
Amount of the levy remaining
unpaid at the start of the levy month
12
×
28
(2) Late payment penalty for a levy month is due and payable at the
29
end of the levy month.
30
Section 10
Australian Transaction Reports and Analysis Centre Supervisory Cost Recovery Levy (Collection)
Bill 2011 No. , 2011 5
(3) However, the AUSTRAC CEO may, by written notice given to the
1
person before, on or after the day on which late payment penalty
2
would be due and payable apart from this subsection, specify a
3
later day as the day on which the late payment penalty is due and
4
payable. The notice has effect, and is taken always to have had
5
effect, according to its terms.
6
10 Payment of levy and late payment penalty
7
Levy and late payment penalty are payable to the AUSTRAC CEO
8
on behalf of the Commonwealth.
9
11 Waiver of levy and late payment penalty
10
(1) The AUSTRAC CEO may, on behalf of the Commonwealth, if the
11
AUSTRAC CEO considers it is appropriate to do so, waive the
12
payment of the whole or a part of an amount of levy or late
13
payment penalty (or both) that is payable by a person.
14
(2) The AUSTRAC CEO may do so on his or her own initiative or on
15
written application by a person.
16
12 Recovery of levy and late payment penalty
17
(1) The following amounts may be recovered by the Commonwealth
18
from a person as debts due to the Commonwealth:
19
(a) levy that is due and payable by the person;
20
(b) late payment penalty that is due and payable by the person.
21
(2) The AUSTRAC CEO is authorised, as agent of the
22
Commonwealth, to bring proceedings in the name of the
23
Commonwealth for the recovery of a debt due to the
24
Commonwealth of a kind mentioned in subsection (1).
25
13 Exempting laws ineffective
26
(1) Nothing in a law passed before the commencement of this section
27
exempts a person from liability to pay levy.
28
Section 14
6 Australian Transaction Reports and Analysis Centre Supervisory Cost Recovery Levy
(Collection) Bill 2011 No. , 2011
(2) If a law (including a provision of a law) passed after the
1
commencement of this section purports to exempt a person from:
2
(a) liability to pay taxes under laws of the Commonwealth; or
3
(b) liability to pay certain taxes under laws of the
4
Commonwealth that would otherwise include levy;
5
the law does not operate to exempt the person from liability to pay
6
levy unless the exemption expressly refers to levy under this Act.
7
(3) To avoid doubt, this section does not apply in relation to an
8
exemption under this Act or the Australian Transaction Reports
9
and Analysis Centre Supervisory Cost Recovery Levy Act 2011.
10
14 Internal review of certain decisions
11
(1) A person who is affected by a decision of the AUSTRAC CEO
12
under section 11 may, if dissatisfied with the decision, request the
13
AUSTRAC CEO to reconsider the decision.
14
(2) The request must:
15
(a) be made by notice given to the AUSTRAC CEO within:
16
(i) the period of 21 days after the day on which the person
17
first receives notice of the decision; or
18
(ii) any further period that the AUSTRAC CEO allows; and
19
(b) set out the reasons for making the request.
20
(3) After receiving the request, the AUSTRAC CEO must review the
21
decision or cause the decision to be reviewed by a person:
22
(a) to whom the AUSTRAC CEO's power under this section is
23
delegated; and
24
(b) who was not involved in the making of the decision; and
25
(c) who occupies a position in AUSTRAC that is senior to that
26
occupied by a person involved in the making of the decision.
27
(4) Within 42 days after receiving the request, the person reviewing
28
the decision must:
29
(a) reconsider the decision; and
30
(b) confirm, revoke or vary the decision, as the person thinks fit.
31
Section 15
Australian Transaction Reports and Analysis Centre Supervisory Cost Recovery Levy (Collection)
Bill 2011 No. , 2011 7
(5) If the person reviewing the decision does not confirm, revoke or
1
vary the decision within the period of 42 days after receiving the
2
request, he or she is taken to have confirmed the decision under
3
subsection (4) immediately after the end of that period.
4
(6) The person reviewing the decision must give a notice in writing to
5
the person that made the request that sets out the result of the
6
reconsideration of the decision and gives the reasons for his or her
7
decision.
8
15 Administrative Appeals Tribunal review of certain decisions
9
Applications may be made to the Administrative Appeals Tribunal
10
for review of:
11
(a) a decision of the AUSTRAC CEO that has been confirmed or
12
varied under subsection 14(4) or a decision that has been
13
taken to have been confirmed under subsection 14(5); or
14
(b) a decision of the AUSTRAC CEO under subsection 14(4) to
15
revoke a decision.
16
16 Regulations
17
The Governor-General may make regulations prescribing matters:
18
(a) required or permitted by this Act to be prescribed; or
19
(b) necessary or convenient to be prescribed for carrying out or
20
giving effect to this Act.
21

 

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