Document ID: chunk:federal_register_of_legislation:C2020A00133:clause:1_26:p2
Version: federal_register_of_legislation:C2020A00133
Segment Type: clause
Provision Reference: sch 1 cl 26 (pt 2/2)
Character Range: 28247–29720

to another person (the related person) that belongs to the designated business group; and
 (d) the related person is a reporting entity or is regulated by one or more laws of a foreign country that give effect to some or all of the FATF Recommendations; and
 (e) if the related person is regulated by one or more laws of a foreign country that give effect to some or all of the FATF Recommendations—the related person has given the first entity a written undertaking for:
 (i) protecting the confidentiality of information that may be disclosed to the related person under this subsection; and
 (ii) controlling the use that will be made of the information; and
 (iii) ensuring that the information will be used only for the purpose for which it is disclosed to the related person; and
 (f) the disclosure is made for the purpose of informing the related person about the risks involved in dealing with the relevant person.
Note: A defendant bears an evidential burden in relation to the matter in subsection (7AB) (see subsection 13.3(3) of the Criminal Code).
 (7AC) A reporting entity to whom information has been disclosed under subsection (7AB) must not disclose the information unless:
 (a) the disclosure is made to another reporting entity that belongs to the designated business group; and
 (b) the disclosure is made for the purpose of informing the other reporting entity about the risks involved in dealing with the relevant person.

Exception—remittance sector