Document ID: chunk:federal_register_of_legislation:F2024C01198:body:0:p164
Version: federal_register_of_legislation:F2024C01198
Segment Type: other
Provision Reference: 
Character Range: 455539–458393

network provider of changes notified to it by a registered remittance affiliate under subsection 75M(2) of the AML/CTF Act.

    Note: Chapter 60 of these AML/CTF Rules sets out the requirements for advising the AUSTRAC CEO of material changes of circumstances and other matters required by section 75M of the AML/CTF Act.

    4. Whether the person has contravened a provision of the AML/CTF Act or a requirement of the AML/CTF Rules, and if so, the details of each instance for the person including the nature, severity and frequency of the breach.

Reporting entities should note that in relation to activities they undertake to comply with the AML/CTF Act, they will have obligations under the Privacy Act 1988, including the requirement to comply with the Australian Privacy Principles, even if they would otherwise be exempt from the Privacy Act. For further information about these obligations, please go to http://www.oaic.gov.au or call 1300 363 992.
CHAPTER 59 Matters to be considered by the AUSTRAC CEO when deciding to suspend a registration

    59.1 These Anti-Money Laundering and Counter-Terrorism Financing Rules (Rules) are made under section 229 of the Anti-Money Laundering and Counter-Terrorism Financing Act 2006 (AML/CTF Act) for the purposes of subsection 75H(1) of that Act and in reliance on section 4 of the Acts Interpretation Act 1901.

    59.2 Subject to paragraphs 59.3, 59.4 and 59.5, the AUSTRAC CEO may suspend for a specified period of time the registration of a person with or without prior notice.

    59.3 The AUSTRAC CEO may suspend a person's registration without prior written notice to the person where one or more grounds in paragraph 59.4 apply and the AUSTRAC CEO is satisfied that it is appropriate to do so.

    Note: A person whose registration has been suspended by the AUSTRAC CEO without prior notice may still apply for a review of this decision under paragraph 59.5(3) of these Rules.

    59.4 Without limiting the matters to which the AUSTRAC CEO may have regard, the AUSTRAC CEO may have regard to any of the following matters when deciding if it is appropriate to suspend the registration of a person under paragraph 59.2, with or without prior notice:

         (1) Whether the person or any of its key personnel:

              (a) has been charged, prosecuted and/or convicted in relation to money laundering, financing of terrorism, terrorism, people smuggling, fraud, a serious offence, an offence under the AML/CTF Act, or an offence under the Financial Transaction Reports Act 1988 (FTR Act);

              (b) has been the subject of a civil penalty order made under the AML/CTF Act;

              (c) has been the subject of civil or criminal proceedings or enforcement action, in relation to the management of an entity, or commercial or professional activities, which were