Document ID: chunk:federal_register_of_legislation:F2024C01198:body:0:p196
Version: federal_register_of_legislation:F2024C01198
Segment Type: other
Provision Reference: 
Character Range: 542377–545240

as applicable;

    the registration of the person will continue in effect until the later of the following times:

         (3) where the AUSTRAC CEO has decided the application for renewal of registration of the person under paragraph 70.9 and has given written notice of the decision in accordance with paragraph 70.11 – the date on which the decision of the AUSTRAC CEO takes effect, as specified in this notice; or

         (4) where the AUSTRAC CEO or other delegated decision-maker has reconsidered a decision not to renew the registration of a person under paragraph 70.18 and has given written notice of the reconsidered decision in accordance with paragraph 70.19 – the date on which the reconsidered decision takes effect, as specified in this notice.

     Steps to be taken by the AUSTRAC CEO before making certain decisions

    70.7 Before making a decision under subparagraph 70.9(2) or paragraph 70.18 affirming that decision in relation to one or more persons, the AUSTRAC CEO must give a written notice to each of the persons containing:

         (1) the terms of the proposed decision; and

         (2) if the proposed decision is not to renew a registration – the date on which the decision is proposed to take effect; and

         (3) the reasons for the proposed decision; and

         (4) a statement that the person may, within 28 days of the giving of the notice, make a submission in relation to the proposed decision.

    70.8 The AUSTRAC CEO is not required to give a notice for the purposes of paragraph 70.7 if the AUSTRAC CEO is satisfied that it is inappropriate to do so because of the urgency of the circumstances.

     Determining application for the renewal of registration of a person

    70.9 The AUSTRAC CEO may decide to:

         (1) renew the registration of the person – with or without conditions pursuant to section 75E of the AML/CTF Act; or

         (2) not renew the registration of the person.

    70.10 Notwithstanding paragraph 70.9, if an application has been made to the AUSTRAC CEO for the renewal of registration of a person, the AUSTRAC CEO must renew the registration if the AUSTRAC CEO is satisfied that it is appropriate to do so, having regard to:

         (1) the declarations required, and any further information provided under paragraphs 70.3, 70.4 or 70.5, as applicable;

         (2) whether renewing the registration of the person would involve a significant money laundering, financing of terrorism, people smuggling or other serious crime risk;

         (3) the legal and beneficial ownership and control of the applicant, a remittance affiliate of the applicant, or any other person;

         (4) the kinds of designated services provided by the applicant or by a remittance affiliate of the applicant;

         (5) the consent of a remittance affiliate of