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Anti-Money Laundering and Counter-Terrorism Financing and Other Legislation Amendment Bill 2019

2019

 

The Parliament of the

Commonwealth of Australia

 

HOUSE OF REPRESENTATIVES

 

 

 

 

Presented and read a first time

 

 

 

 

Anti-Money Laundering and Counter-Terrorism Financing and Other Legislation Amendment Bill 2019

 

No.      , 2019

 

(Home Affairs)

 

 

 

A Bill for an Act to amend the law relating to the combatting of money laundering and financing of terrorism and to the Australian Federal Police, and for related purposes

   

   



Contents

1............ Short title............................................................................................. 1

2............ Commencement................................................................................... 1

3............ Schedules............................................................................................ 2

Schedule 1—Amendments                                                                                                 3

Part 1—Identification procedures                                                                           3

Anti-Money Laundering and Counter-Terrorism Financing Act 2006              3

Part 2—Correspondent banking                                                                             10

Anti-Money Laundering and Counter-Terrorism Financing Act 2006            10

Part 3—Tipping-off offence                                                                                     16

Anti-Money Laundering and Counter-Terrorism Financing Act 2006            16

Part 4—Secrecy and access                                                                                       22

Anti-Money Laundering and Counter-Terrorism Financing Act 2006            22

Inspector-General of Intelligence and Security Act 1986                                  39

Part 5—Reports about cross-border movements of monetary instruments             42

Anti-Money Laundering and Counter-Terrorism Financing Act 2006            42

Proceeds of Crime Act 2002                                                                                     53

Surveillance Devices Act 2004                                                                                53

Part 6—Money laundering offences in the Criminal Code                       56

Criminal Code Act 1995                                                                                           56

Part 7—Dishonestly representing conferral of police awards                  58

Australian Federal Police Act 1979                                                                       58

 

 



A Bill for an Act to amend the law relating to the combatting of money laundering and financing of terrorism and to the Australian Federal Police, and for related purposes

The Parliament of Australia enacts:

1   Short title

                   This Act is the Anti-Money Laundering and Counter-Terrorism Financing and Other Legislation Amendment Act 2019 .

2   Commencement

             (1)  Each provision of this Act specified in column 1 of the table commences, or is taken to have commenced, in accordance with column 2 of the table. Any other statement in column 2 has effect according to its terms.

 

Commencement information

Column 1

Column 2

Column 3

Provisions

Commencement

Date/Details

1.  Sections 1 to 3 and anything in this Act not elsewhere covered by this table

The day this Act receives the Royal Assent.

 

2.  Schedule 1, Parts 1 to 4

A day or days to be fixed by Proclamation.

However, if any of the provisions do not commence within the period of 6 months beginning on the day this Act receives the Royal Assent, they commence on the day after the end of that period.

 

3.  Schedule 1, Part 5

A single day to be fixed by Proclamation.

However, if the provisions do not commence within the period of 18 months beginning on the day this Act receives the Royal Assent, they commence on the day after the end of that period.

 

4.  Schedule 1, Parts 6 and 7

The day after this Act receives the Royal Assent.

 

Note:          This table relates only to the provisions of this Act as originally enacted. It will not be amended to deal with any later amendments of this Act.

             (2)  Any information in column 3 of the table is not part of this Act. Information may be inserted in this column, or information in it may be edited, in any published version of this Act.

3   Schedules

                   Legislation 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.