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

Schedule 1   Amendments

Part 5   Reports about cross-border movements of monetary instruments

Surveillance Devices Act 2004

123   Application, saving and transitional provisions

(1) Division 2 of Part 4 of the Anti-Money Laundering and Counter-Terrorism Financing Act 2006, as substituted by this Part, applies in relation to the movement of a monetary instrument into or out of Australia on or after the commencement of this item.

(2) Division 2 of Part 4 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 physical currency moved into or out of Australia before that commencement.

(3) Division 3 of Part 4, and sections 201 and 244, of the Anti-Money Laundering and Counter-Terrorism Financing Act 2006, as in force immediately before the commencement of this item, continue to apply on and after that commencement in relation to a requirement made under subsection 59(1) of that Act before that commencement.

(4) Section 143 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 non-reportable cross-border movements of physical currency that occurred before that commencement.

(5) For the purposes of the operation of section 143 of the Anti-Money Laundering and Counter-Terrorism Financing Act 2006 on or after the commencement of this item, a non-reportable cross-border movement of physical currency that occurred before the commencement of this item is taken on and after that commencement to have been a non-reportable cross-border movement of monetary instruments.

(6) The amendments of section 186A of the Anti-Money Laundering and Counter-Terrorism Financing Act 2006 made by this Part apply in relation to an alleged contravention of a provision covered by subsection 186A(1) or (2) of that Act occurring on or after the commencement of this item.

(7) Division 3 of Part 15 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 an alleged contravention of subsection 53(3) or 59(4) of that Act occurring before that commencement.

(8) The amendments of section 199 of the Anti-Money Laundering and Counter-Terrorism Financing Act 2006 made by this Part apply in relation to a person who on or after the commencement of this item:

(a) is about to leave Australia or is in an embarkation area for the purpose of leaving Australia; or

(b) arrives in Australia.

(9) Section 200 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 person who before that commencement:

(a) was about to leave Australia or was in an embarkation area for the purpose of leaving Australia; or

(b) arrived in Australia.