Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) The AUSTRAC CEO may cancel the registration of a person if the AUSTRAC CEO is satisfied that it is appropriate to do so, having regard to:
(a) whether the continued registration of the person involves, or may involve, a significant money laundering, financing of terrorism, people smuggling or other serious crime risk; or
(b) one or more breaches by the person of a condition of registration; or
(c) such other matters (if any) as are specified in the AML/CTF Rules under this paragraph.
Note: A decision to cancel a registration is reviewable (see Part 17A).
(1A) The AUSTRAC CEO may also cancel the registration of a person if the AUSTRAC CEO has reasonable grounds to believe that the registered person no longer carries on a business that gives rise to the requirement to be registered under this Part.
(2) The cancellation of the registration of a person takes effect on the day specified in the notice given to the person under subsection 233C(1).
(3) The AUSTRAC CEO may publish, in the manner specified in the AML/CTF Rules, a list of the names of persons whose registration has been cancelled and the date the cancellation takes effect.