Document ID: chunk:federal_register_of_legislation:C2011A00060:clause:1_54
Version: federal_register_of_legislation:C2011A00060
Segment Type: clause
Provision Reference: sch 1 cl 54
Character Range: 48203–49432

54  Cessation of Register
The AUSTRAC CEO ceases to be required to maintain the old Register, and the old Register ceases to have effect, when the AUSTRAC CEO has finally determined all applications made by, or in relation to, the following:
 (a) persons:
 (i) whose names and registrable details were entered on the old Register as at, or after, the registration commencement day; and
 (ii) who made an application, under the new law, for registration as an independent remittance dealer during the period of 6 months commencing on the registration commencement day;
 (b) persons:
 (i) whose names and registrable details were on the old Register as at, or after, the registration commencement day; and
 (ii) in relation to whom an application was made, under the new law, for registration as a remittance affiliate of a registered remittance network provider during the period of 12 months commencing on the registration commencement day.
Note: Under item 55, persons entered on the old Register have 6 months for an application to be made for registration as an independent remittance dealer, and 12 months for an application to be made for registration as a remittance affiliate of a registered remittance network provider.