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This is a Bill, not an Act. For current law, see the Acts databases.
2019-2022
The Parliament of the
Commonwealth of Australia
THE SENATE
Presented and read a first time
Anti-Money Laundering and
Counter-Terrorism Financing
Amendment (Increased Financial
Transparency) Bill 2022
No. , 2022
(Senator McKim)
A Bill for an Act to amend the Anti-Money
Laundering and Counter-Terrorism Financing Act
2006, and for related purposes
No. , 2022
Anti-Money Laundering and Counter-Terrorism Financing Amendment
(Increased Financial Transparency) Bill 2022
i
Contents
1
Short title ........................................................................................... 1
2
Commencement ................................................................................. 1
3
Schedules ........................................................................................... 2
Schedule 1--Amendments
3
Anti-Money Laundering and Counter-Terrorism Financing Act 2006
3
No. , 2022
Anti-Money Laundering and Counter-Terrorism Financing Amendment
(Increased Financial Transparency) Bill 2022
1
A Bill for an Act to amend the Anti-Money
1
Laundering and Counter-Terrorism Financing Act
2
2006, and for related purposes
3
The Parliament of Australia enacts:
4
1 Short title
5
This Act is the
Anti-Money Laundering and Counter-Terrorism
6
Financing Amendment (Increased Financial Transparency) Act
7
2022
.
8
2 Commencement
9
(1) Each provision of this Act specified in column 1 of the table
10
commences, or is taken to have commenced, in accordance with
11
2
Anti-Money Laundering and Counter-Terrorism Financing Amendment
(Increased Financial Transparency) Bill 2022
No. , 2022
column 2 of the table. Any other statement in column 2 has effect
1
according to its terms.
2
3
Commencement information
Column 1
Column 2
Column 3
Provisions
Commencement
Date/Details
1. The whole of
this Act
The day after this Act receives the Royal
Assent.
Note:
This table relates only to the provisions of this Act as originally
4
enacted. It will not be amended to deal with any later amendments of
5
this Act.
6
(2) Any information in column 3 of the table is not part of this Act.
7
Information may be inserted in this column, or information in it
8
may be edited, in any published version of this Act.
9
3 Schedules
10
Legislation that is specified in a Schedule to this Act is amended or
11
repealed as set out in the applicable items in the Schedule
12
concerned, and any other item in a Schedule to this Act has effect
13
according to its terms.
14
Amendments
Schedule 1
No. , 2022
Anti-Money Laundering and Counter-Terrorism Financing Amendment
(Increased Financial Transparency) Bill 2022
3
Schedule 1--Amendments
1
2
Anti-Money Laundering and Counter-Terrorism Financing
3
Act 2006
4
1 After section 249
5
Insert:
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249A Legislation to expand designated services
7
The Minister must, before 30 September 2022, cause to be
8
introduced into the Parliament a Bill for an Act to include in
9
section 6 (definition of
designated service
) the provision of
10
designated services by professions including but not limited to the
11
following, in order to address the risk of money laundering and
12
terrorism financing:
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(a) lawyers;
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(b) conveyancers;
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(c) accountants;
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(d) high-value dealers;
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(e) real estate agents;
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(f) trust and company service providers.
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249B Legislation to establish ultimate beneficial ownership register
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The Minister must, before 30 September 2022, cause to be
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introduced into the Parliament a Bill for an Act to establish a
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register that:
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(a) contains information about the ultimate beneficial ownership
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of:
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(i) each company and foreign company registered under
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the
Corporations Act 2001
; and
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(ii) each other legal person or legal arrangement as the
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Minister considers appropriate; and
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(b) is publicly accessible.
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