Anti-Money Laundering and Counter-Terrorism Financing Amendment Act 2024 (110 of 2024)

Schedule 3   Regulating additional high-risk services

Part 4   Transitional provisions

11   Delayed application of certain provisions of this Act

(1) The following provisions of the Anti-Money Laundering and Counter-Terrorism Financing Act 2006 do not apply, until 1 July 2026, to a reporting entity in its capacity as an entity that provides a designated service covered by item 2 of table 2, or an item of table 5 or 6, in section 6 of that Act:

(a) Part 1A (which deals with AML/CTF programs);

(b) Part 2 (which deals with customer due diligence);

(c) Part 3 (which deals with reporting obligations);

(d) Divisions 2 to 6 of Part 10 (which deal with record keeping).

(2) Subject to anything else in this Act or in rules made under Schedule 12 to this Act (which deals with transitional rules), the remaining provisions of the Anti-Money Laundering and Counter-Terrorism Financing Act 2006 apply, on and after the commencement of this item, to such a reporting entity.