Document ID: chunk:federal_register_of_legislation:C2024A00110:clause:10_39b:p2
Version: federal_register_of_legislation:C2024A00110
Segment Type: clause
Provision Reference: sch 10 cl 39B (pt 2/2)
Character Range: 207206–208795

senior member of an agency that issued a keep open notice to a reporting entity may, by notice (an extension notice) to the reporting entity in the form prescribed by the AML/CTF Rules for the purposes of this subsection, extend the period for which the keep open notice remains in force for a further period of 6 months if:
 (a) the extension notice is issued to the reporting entity before the expiry of the keep open notice; and
 (b) subject to subsection (8), the keep open notice has not previously been extended more than once under this subsection; and
 (c) the senior member of the agency reasonably believes that the continued provision of a designated service by the reporting entity to the customer would assist in the investigation by the agency of a serious offence.
 (8) Paragraph (7)(b) does not apply in relation to an extension notice if:
 (a) the keep open notice has previously been extended at least twice under subsection (7); and
 (b) a senior member of the agency that issued the keep open notice applies to the AUSTRAC CEO in the form prescribed by the AML/CTF Rules for the purposes of this paragraph; and
 (c) the AUSTRAC CEO is satisfied that the continued provision of a designated service by the reporting entity to the customer would assist in the investigation by the agency of a serious offence; and
 (d) the AUSTRAC CEO gives notice, in writing, to the agency that paragraph (7)(b) does not apply in relation to the extension notice.
 (9) The AUSTRAC CEO may give a notice under paragraph (8)(d) more than once in relation to a particular keep open notice.