Anti-Money Laundering and Counter-Terrorism Financing (Transitional Provisions and Consequential Amendments) Act 2006 (170 of 2006)

Schedule 1   Amendments

Part 1   Amendments

Financial Transaction Reports Act 1988

85   After subsection 16(4)

Insert:

(4A) Subsections (1) and (1A) do not impose any obligations on a cash dealer in relation to a transaction if:

(a) the cash dealer is a reporting entity; and

(b) the transaction occurs after the commencement of Division 1 of Part 3 of the Anti-Money Laundering and Counter-Terrorism Financing Act 2006; and

(c) the transaction is a designated service transaction.