Commonwealth Numbered Acts

ANTI-MONEY LAUNDERING AND COUNTER-TERRORISM FINANCING ACT 2006 (NO. 169, 2006) - SECT 54

Applicable timing rule

             (1)  A report under section 53 must be given:

                     (a)  if the movement of the physical currency is to be effected by a person bringing the physical currency into Australia with the person--at the time worked out under subsection (2); or

                     (b)  if the movement of the physical currency is to be effected by a person taking the physical currency out of Australia with the person--at the time worked out under subsection (3); or

                     (c)  if the physical currency is to be taken out of Australia by a person by consignment of the physical currency:

                              (i)  through the post to a place outside Australia; or

                             (ii)  to another person for carriage to a place outside Australia by that other person or by a third person;

                            at any time before the time when the physical currency is irrevocably committed by the first‑mentioned person to the Australian Postal Corporation or to the other person, as the case may be; or

                     (d)  in any other case--at any time before the movement of the physical currency takes place.

Inwards movements

             (2)  For the purposes of paragraph (1)(a), the applicable time is:

                     (a)  if the person:

                              (i)  moves the physical currency into Australia on an aircraft or ship; and

                             (ii)  after disembarking, goes to the place at which customs officers examine baggage;

                            as soon as the person reaches that place; or

                     (b)  in any other case--the first opportunity after arrival in Australia that the person has to give the report under section 53.

Outwards movements

             (3)  For the purposes of paragraph (1)(b), the applicable time is:

                     (a)  if:

                              (i)  the movement of the physical currency is to be effected on an aircraft or ship; and

                             (ii)  the person, before embarking, goes to the place at which customs officers examine passports;

                            as soon as the person reaches that place; or

                     (b)  in any other case--as soon as the person reaches the customs officer who is to examine the person's passport in relation to the person leaving Australia or, if there is no such examination, the last opportunity before leaving Australia that the person has to give the report under section 53.