Commonwealth Numbered Acts Commonwealth Numbered Acts(1) This section applies if the AUSTRAC CEO is satisfied that a reporting entity has contravened, or is contravening, a civil penalty provision (other than subsection (4)).
(2) The AUSTRAC CEO may give the reporting entity a written direction requiring the reporting entity to take specified action directed towards ensuring that the reporting entity does not contravene the civil penalty provision, or is unlikely to contravene the civil penalty provision, in the future.
(3) The following are examples of the kinds of direction that may be given to a reporting entity under subsection (2):
(a) a direction that the reporting entity implement effective administrative systems for monitoring compliance with a civil penalty provision;
(b) a direction that the reporting entity implement a system designed to give the reporting entity's officers, employees and agents a reasonable knowledge and understanding of the requirements of a civil penalty provision, in so far as those requirements affect the officers, employees or agents concerned.
(4) A reporting entity must not contravene a direction under subsection (2).
Civil penalty
(5) Subsection (4) is a civil penalty provision.
Remedial direction is not a legislative instrument
(6) A direction under subsection (2) is not a legislative instrument.