Document ID: chunk:federal_register_of_legislation:C2025C00044:section:43
Version: federal_register_of_legislation:C2025C00044
Segment Type: section
Provision Reference: s 43
Character Range: 183155–184011

43  Reports of threshold transactions

Scope
 (1) This section applies to a reporting entity if:
 (a) the reporting entity commences to provide, or provides, a designated service to a customer; and
 (b) the provision of the service involves a threshold transaction.

Report
 (2) The reporting entity must, within 10 business days after the day on which the transaction takes place, give the AUSTRAC CEO a report of the transaction.
 (3) A report under subsection (2) must:
 (a) be in the approved form; and
 (b) contain such information relating to the transaction as is specified in the AML/CTF Rules.
Note 1: For additional rules about reports, see section 244.
Note 2: Section 49 deals with the provision of further information, and the production of documents, by the reporting entity.

Civil penalty
 (4) Subsection (2) is a civil penalty provision.