Commonwealth of Australia Explanatory Memoranda

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AUSTRALIAN TRANSACTION REPORTS AND ANALYSIS CENTRE SUPERVISORY COST RECOVERY LEVY (CONSEQUENTIAL AMENDMENTS) BILL 2011

                                         2010 - 2011



          THE PARLIAMENT OF THE COMMONWEALTH OF AUSTRALIA



                             HOUSE OF REPRESENTATIVES



       AUSTRALIAN TRANSACTION REPORTS AND ANALYSIS CENTRE
            SUPERVISORY COST RECOVERY LEVY BILL 2011

       AUSTRALIAN TRANSACTION REPORTS AND ANALYSIS CENTRE
       SUPERVISORY COST RECOVERY LEVY (COLLECTION) BILL 2011

     AUSTRALIAN TRANSACTION REPORTS AND ANALYSIS CENTRE
 SUPERVISORY COST RECOVERY LEVY (CONSEQUENTIAL AMENDMENTS)
                          BILL 2011



                               CORRECTION TO THE
                           EXPLANATORY MEMORANDUM


NOTES ON CLAUSES

AUSTRALIAN TRANSACTION REPORTS AND ANALYSIS CENTRE
SUPERVISORY COST RECOVERY LEVY (CONSEQUENTIAL AMENDMENTS)
BILL 2011

SCHEDULE 1 - AMENDMENT OF THE ANTI-MONEY LAUNDERING AND
COUNTER-TERRORISM FINANCING ACT 2006, ITEM 2 - CLAUSE 51B

Second line, omit `within 28 days before or after the commencement of the section, or after
commencing to provide a designated service.' substitute `If the entity provides a designated
service within 28 days before the commencement of the clause 51B, the entity has 28 days
after the commencement of clause 51B to enrol. If an entity commences to provide
designated services after the commencement of clause 51B, they have 28 days from the date
on which they commenced to provide the designated services to enrol.'


                     (Circulated by authority of the Minister for Justice,
                              the Hon Brendan O'Connor MP)