Document ID: chunk:federal_register_of_legislation:C2011A00060:clause:1_52
Version: federal_register_of_legislation:C2011A00060
Segment Type: clause
Provision Reference: sch 1 cl 52
Character Range: 45452–46414

52  Application of the reporting entity provisions of the new law to remittance network providers
(1) The following provisions of the Anti‑Money Laundering and Counter‑Terrorism Financing Act 2006 do not apply, until 12 months after the day on which this Act receives the Royal Assent, to a reporting entity in its capacity as an entity that provides a designated service covered by item 32A of table 1 in section 6 of that Act:
 (a) Part 2 (which deals with identification procedures);
 (b) Division 5 of Part 3 (which deals with compliance reports);
 (c) Part 7 (which deals with AML/CTF programs);
 (d) Divisions 3 and 5 of Part 10 (which deal with record keeping).
(2) Subject to this Part and Part 4, the remaining provisions of the Anti‑Money Laundering and Counter‑Terrorism Financing Act 2006 apply, on and after the day on which this Act receives the Royal Assent, to such a reporting entity.

Part 3—Transitional provisions relating to other matters