Tax Laws Amendment (Confidentiality of Taxpayer Information) Act 2010 (145 of 2010)

Schedule 2   Consequential amendments

Part 1   Amendments

Anti-Money Laundering and Counter-Terrorism Financing Act 2006

3   Subsection 125(3)

Repeal the subsection, substitute:

Application of Division 355 in Schedule 1 to the Taxation Administration Act 1953

(3) Division 355 in Schedule 1 to the Taxation Administration Act 1953 applies in relation to AUSTRAC information obtained by the Commissioner of Taxation or a taxation officer under subsection (1) or (2) of this section as if a reference in that Division to a taxation law included a reference to this Act or the Financial Transaction Reports Act 1988.

Note: Division 355 in Schedule 1 to the Taxation Administration Act 1953 deals with confidentiality of taxation information.