Document ID: chunk:federal_register_of_legislation:C2007C00287:clause:1_94
Version: federal_register_of_legislation:C2007C00287
Segment Type: clause
Provision Reference: sch 1 cl 94
Character Range: 30536–31549

94  After subsection 18(1)
Insert:

 (1A) Subparagraphs (1)(a)(i) and (b)(i) do not apply if the account is opened after the commencement of Division 1 of Part 2 of the Anti‑Money Laundering and Counter‑Terrorism Financing Act 2006 in circumstances that amount to the provision of a designated service.

 (1B) Subparagraphs (1)(a)(ii) and (b)(ii) do not apply if:
 (a) the person becomes a signatory of the account after the commencement of Division 1 of Part 2 of the Anti‑Money Laundering and Counter‑Terrorism Financing Act 2006; and
 (b) either:
 (i) the account is opened after the commencement of Division 1 of Part 2 of the Anti‑Money Laundering and Counter‑Terrorism Financing Act 2006 in circumstances that amount to the provision of a designated service; or
 (ii) the account was opened before the commencement of that Division in circumstances that would have amounted to the provision of a designated service if all the provisions of Parts 1 and 2 of that Act had been in force at the relevant time.