Commonwealth Numbered Acts

ANTI-MONEY LAUNDERING AND COUNTER-TERRORISM FINANCING ACT 2006 (NO. 169, 2006) - SECT 32

             (1)  A reporting entity must not commence to provide a designated service to a customer if:

                     (a)  there are no special circumstances that justify carrying out the applicable customer identification procedure in respect of the customer after the commencement of the provision of the service (see section 33); and

                     (b)  the reporting entity has not previously carried out the applicable customer identification procedure in respect of the customer; and

                     (c)  neither section 28 nor section 30 applies to the provision of the service.

Note 1:       See also the definition of commence to provide a designated service in section 5.

Note 2:       See also section 38 (when applicable customer identification procedure deemed to be carried out by a reporting entity).

Civil penalty

             (2)  Subsection (1) is a civil penalty provision.