Anti-Money Laundering and Counter-Terrorism Financing and Other Legislation Amendment Act 2020 (133 of 2020)

Schedule 1   Amendments

Part 1   Identification procedures

Anti-Money Laundering and Counter-Terrorism Financing Act 2006

10   Application and saving provisions

(1) The repeal and substitution of section 32 of the Anti-Money Laundering and Counter-Terrorism Financing Act 2006 made by this Part applies in relation to a designated service that commences to be provided on or after the commencement of this item.

(2) Section 37A of the Anti-Money Laundering and Counter-Terrorism Financing Act 2006, as inserted by this Part, applies in relation to an agreement or arrangement entered into on or after the commencement of this item.

(3) Section 38 of the Anti-Money Laundering and Counter-Terrorism Financing Act 2006, as substituted by this Part, applies in relation to a designated service referred to in paragraph 38(a) of that Act that is provided on or after the commencement of this item (whether the procedure referred to in paragraph 38(b) of that Act was carried out before, on or after that commencement).

(4) Section 38 of the Anti-Money Laundering and Counter-Terrorism Financing Act 2006, as in force immediately before the commencement of this item, continues to apply on and after that commencement in relation to a designated service referred to in paragraph 38(c) of that Act (as so in force) that was provided before that commencement.

(5) Section 114 of the Anti-Money Laundering and Counter-Terrorism Financing Act 2006, as in force immediately before the commencement of this item, continues to apply on and after that commencement in relation to applications of subsection 114(1) of that Act before that commencement.