Commonwealth Numbered Acts

ANTI-MONEY LAUNDERING AND COUNTER-TERRORISM FINANCING ACT 2006 (NO. 169, 2006) - SECT 82

Compliance with program

             (1)  If a reporting entity has adopted:

                     (a)  a standard anti‑money laundering and counter‑terrorism financing program; or

                     (b)  a joint anti‑money laundering and counter‑terrorism financing program;

that applies to the reporting entity, the reporting entity must comply with:

                     (c)  Part A of the program; or

                     (d)  if the program has been varied on one or more occasions--Part A of the program as varied.

Civil penalty

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

Exceptions

             (3)  Subsection (1) does not apply to a particular provision of Part A of a standard anti‑money laundering and counter‑terrorism financing program if the provision was not included in the program in order to comply with the requirements specified in AML/CTF Rules made for the purposes of paragraph 84(2)(c).

             (4)  Subsection (1) does not apply to a particular provision of Part A of a joint anti‑money laundering and counter‑terrorism financing program if the provision was not included in the program in order to comply with the requirements specified in AML/CTF Rules made for the purposes of paragraph 85(2)(c).

             (5)  A person who wishes to rely on subsection (3) or (4) bears an evidential burden in relation to that matter.