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

Schedule 9   Powers and definitions

Part 1   Examination power

Anti-Money Laundering and Counter-Terrorism Financing Act 2006

3   Section 166

Repeal the section, substitute:

166 Simplified outline

An authorised officer may obtain information or documents.

If the AUSTRAC CEO believes on reasonable grounds that a person has information or a document that is relevant to compliance with this Act, the regulations or the AML/CTF Rules, or an offence against the Crimes Act 1914 or the Criminal Code that relates to this Act, the regulations or the AML/CTF Rules, the AUSTRAC CEO may require the person:

(a) to produce to the AUSTRAC CEO, within the period and in the manner specified in the notice, any such documents; or

(b) to appear before an examiner for examination under this Division on oath or affirmation and to answer questions, and to produce any such documents.

The examiner may, and must if the examinee so requests, cause a record to be made of statements made at an examination under this Division.

A statement made by a person at an examination under this Division of the person is admissible in evidence against the person in certain proceedings except in certain circumstances.