Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) An entity is released from an obligation that the entity would otherwise be required to satisfy under a provision of this Part (other than Division 1) if the obligation:
(a) is of a kind prescribed by rules for the purposes of Part XA; and
(b) is specified in those rules as an obligation from which an entity may be released; and
(c) is specified in a trusted trader agreement between the Comptroller - General of Customs and the entity.
(2) If:
(a) an obligation must be satisfied under a provision of this Part (other than Division 1); and
(b) the obligation:
(i) is of a kind prescribed by rules for the purposes of Part XA; and
(ii) is specified in those rules as an obligation that may be satisfied in a way other than required by this Part; and
(iii) is specified in a trusted trader agreement between the Comptroller - General of Customs and an entity;
then, despite the relevant provision, the entity may satisfy the obligation in the way specified in the trusted trader agreement.