Financial Transaction Reports Amendment (Transitional Arrangements) Act 2008 (Cth)

Financial Transaction Reports Amendment (Transitional Arrangements) Act 2008

No. 124, 2008

An Act to amend the Financial Transaction Reports Act 1988, and for related purposes

Contents 1 Short title 2 Commencement 3 Schedule(s)

Schedule 1—Amendments Financial Transaction Reports Act 1988

Financial Transaction Reports Amendment (Transitional Arrangements) Act 2008

No. 124, 2008

An Act to amend the Financial Transaction Reports Act 1988, and for related purposes

[Assented to 25 November 2008]

The Parliament of Australia enacts:

1 Short title

This Act may be cited as the Financial Transaction Reports Amendment (Transitional Arrangements) Act 2008.

2 Commencement

This Act commences on the day on which it receives the Royal Assent.

3 Schedule(s)

Each Act that is specified in a Schedule to this Act is amended or repealed as set out in the applicable items in the Schedule concerned, and any other item in a Schedule to this Act has effect according to its terms.

Schedule 1—Amendments

Financial Transaction Reports Act 1988

1 Subparagraph 7(1)(f)(ii) Omit "the commencement of Division 3 of Part 3 of the Anti‑Money Laundering and Counter‑Terrorism Financing Act 2006", substitute "11 March 2010".

2 After subsection 7(1) Insert:

(1A) Subsection (1) does not apply in relation to a transaction if the cash dealer complies with section 43 of the Anti‑Money Laundering and Counter‑Terrorism Financing Act 2006 in relation to the transaction.

3 Subsection 11(2A) Omit "the commencement of Division 1 of Part 3 of the Anti‑Money Laundering and Counter‑Terrorism Financing Act 2006", substitute "11 March 2010".

4 Subsection 15A(1) Omit "subsection (3A)", substitute "subsections (3A) and (3B)".

5 Paragraph 15A(3A)(b) Omit "the commencement of Division 1 of Part 3 of the Anti‑Money Laundering and Counter‑Terrorism Financing Act 2006", substitute "11 March 2010".