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

Schedule 1   Amendments

Part 2   Transitional provisions

160   Terms and conditions of appointment - AUSTRAC CEO

(1) This item applies to an instrument that:

(a) was in force immediately before the commencement of this item; and

(b) was made under subsection 36(2) of the Financial Transaction Reports Act 1988.

(2) If the person who held office as Director of AUSTRAC immediately before the commencement of this item remains in office as the AUSTRAC CEO after the commencement of this item, the instrument (to the extent to which it deals with matters not covered by the Anti-Money Laundering and Counter-Terrorism Financing Act 2006) has effect, after the commencement of this item, as if:

(a) it had been made under section 220 of the Anti-Money Laundering and Counter-Terrorism Financing Act 2006; and

(b) a reference in the instrument to the Director of AUSTRAC were a reference to the AUSTRAC CEO.

(3) This item does not limit section 25B of the Acts Interpretation Act 1901.