Document ID: chunk:federal_register_of_legislation:C2007C00287:clause:1_101
Version: federal_register_of_legislation:C2007C00287
Segment Type: clause
Provision Reference: sch 1 cl 101
Character Range: 32120–33325

101  After subsection 21A(1)
Insert:

 (1A) This section does not apply to an individual who wishes to open an account if the account is opened after the commencement of Division 1 of Part 2 of the Anti‑Money Laundering and Counter‑Terrorism Financing Act 2006 in circumstances that amount to the provision of a designated service.

 (1B) This section does not apply to an individual who wishes to become a signatory to an account with an identifying cash dealer in a name by which the individual intends to be commonly known if:
 (a) the individual wishes to become a signatory to the account in that name after the commencement of Division 1 of Part 2 of the Anti‑Money Laundering and Counter‑Terrorism Financing Act 2006; and
 (b) either:
 (i) the account is opened after the commencement of Division 1 of Part 2 of the Anti‑Money Laundering and Counter‑Terrorism Financing Act 2006 in circumstances that amount to the provision of a designated service; or
 (ii) the account was opened before the commencement of that Division in circumstances that would have amounted to the provision of a designated service if all the provisions of Parts 1 and 2 of that Act had been in force at the relevant time.