Anti-Money Laundering and Counter-Terrorism Financing and Other Legislation Amendment Act 2020 (133 of 2020)

Schedule 1   Amendments

Part 4   Secrecy and access

Inspector-General of Intelligence and Security Act 1986

65   Application and transitional provisions

(1) Section 50A of the Anti-Money Laundering and Counter-Terrorism Financing Act 2006, as inserted by this Part, applies in relation to the making of a record of, the disclosure of or the use of information on or after the commencement of this item (whether the information was obtained before, on or after that commencement).

(2) For the purposes of the operation of section 50A of the Anti-Money Laundering and Counter-Terrorism Financing Act 2006, as inserted by this Part,on or after the commencement of this item, information obtained under subsection 122(3) of that Act before that commencement is taken on and after that commencement to be information obtained under section 50A of that Act.

(3) Section 121 of the Anti-Money Laundering and Counter-Terrorism Financing Act 2006, as substituted by this Part, applies in relation to the accessing of, the making of a record of, the authorising of access to, the disclosure of or the use of information on or after the commencement of this item (whether the information came into existence before, on or after that commencement).

(4) The amendments of section 124 of the Anti-Money Laundering and Counter-Terrorism Financing Act 2006 made by this Part apply in relation to proceedings instituted on or after the commencement of this item.

(5) If:

(a) immediately before the commencement of this item, an authorisation is in force under subsection 126(1) of the Anti-Money Laundering and Counter-Terrorism Financing Act 2006 in relation to a designated agency; and

(b) on the commencement of this item, the agency is a Commonwealth, State or Territory agency (within the meaning of section 5 of that Act);

then the authorisation has effect on and after the commencement of this item as if it were an authorisation in force under subsection 125(1) of that Act in relation to that Commonwealth, State or Territory agency.

(6) Subitem (5) does not prevent the variation or revocation of the authorisation on or after the commencement of this item.

(7) Section 126 of the Anti-Money Laundering and Counter-Terrorism Financing Act 2006, as substituted by this Part, applies in relation to the making of a record of, the disclosure of or the use of information on or after the commencement of this item (whether the information came into existence before, on or after that commencement).

(8) For the purposes of the operation of section 126 of the Anti-Money Laundering and Counter-Terrorism Financing Act 2006, as substituted by this Part,on or after the commencement of this item, accessed information (within the meaning of subsection 127(4) of that Act as in force immediately before that commencement) obtained by a person before that commencement is taken on and after that commencement to be AUSTRAC information obtained under subsection 126(2) of that Act.

(9) If, at any time before the commencement of this item, a person was covered by subsection 127(1) of the Anti-Money Laundering and Counter-Terrorism Financing Act 2006, then, for the purposes of the operation of section 126 of that Act, as substituted by this Part,on or after that commencement, the person is taken to be a person who is or has been an official of a Commonwealth, State or Territory agency.

(10) Section 127 of the Anti-Money Laundering and Counter-Terrorism Financing Act 2006, as substituted by this Part, applies in relation to AUSTRAC information that came into existence before, on or after the commencement of this item.

(11) Section 128 of the Anti-Money Laundering and Counter-Terrorism Financing Act 2006, as substituted by this Part, applies in relation to the accessing of information on or after the commencement of this item.

(12) Paragraph 129(1)(a) of the Anti-Money Laundering and Counter-Terrorism Financing Act 2006, as substituted by this Part, applies in relation to a disclosure of information on or after the commencement of this item.