Document ID: chunk:federal_register_of_legislation:C2011A00060:clause:1_53
Version: federal_register_of_legislation:C2011A00060
Segment Type: clause
Provision Reference: sch 1 cl 53
Character Range: 46414–48203

53  Continuation of old law for certain purposes relating to the old Register
(1) The Anti‑Money Laundering and Counter‑Terrorism Financing Act 2006 is taken to continue in operation after the registration commencement day for the purposes of this item.
(2) After the registration commencement day:
 (a) the old Register is taken to continue in existence; and
 (b) subject to this item, the AUSTRAC CEO must maintain the old Register.
(3) Despite subitems (1) and (2):
 (a) except with the consent of the AUSTRAC CEO, an application cannot be made for a person's name and registrable details to be entered on the old Register after the registration commencement day; and
 (b) the AUSTRAC CEO may enter a person's name and registrable details on the old Register after the registration commencement day only if an application has been made with the consent of the AUSTRAC CEO.
(4) The AUSTRAC CEO must not give consent as mentioned in paragraph (3)(a) unless he or she is satisfied that it is appropriate to do so, having regard to the matters (if any) specified in the Rules.
(5) The AUSTRAC CEO may cancel a person's registration on the old Register if the AUSTRAC CEO is satisfied that not to do so would involve a significant money laundering, financing of terrorism or people smuggling risk.
(6) The AUSTRAC CEO must remove a person's name and registrable details from the old Register if:
 (a) an application is made under the new law for registration of the person and the application is finally determined; or
 (b) the person's registration is cancelled under subitem (5).
(7) A decision to refuse consent under paragraph (3)(a) and a decision to cancel a person's registration under subitem (5) are taken to be reviewable decisions within the meaning of section 5 of the new law.