ANTI-MONEY LAUNDERING AND COUNTER-TERRORISM FINANCING ACT 2006 - SECT 82 Compliance with Part A of an anti - money laundering and counter - terrorism financing program

ANTI-MONEY LAUNDERING AND COUNTER-TERRORISM FINANCING ACT 2006 - SECT 82

Compliance with program

  (1)   If a reporting entity has adopted:

  (a)   a standard anti - money laundering and counter - terrorism financing program; or

  (b)   a joint anti - money laundering and counter - terrorism financing program;

that applies to the reporting entity, the reporting entity must comply with:

  (c)   Part A of the program; or

  (d)   if the program has been varied on one or more occasions--Part A of the program as varied.

Civil penalty

  (2)   Subsection   (1) is a civil penalty provision.

Exceptions

  (3)   Subsection   (1) does not apply to a particular provision of Part A of a standard anti - money laundering and counter - terrorism financing program if the provision was not included in the program in order to comply with the requirements specified in AML/CTF Rules made for the purposes of paragraph   84(2)(c).

  (4)   Subsection   (1) does not apply to a particular provision of Part A of a joint anti - money laundering and counter - terrorism financing program if the provision was not included in the program in order to comply with the requirements specified in AML/CTF Rules made for the purposes of paragraph   85(2)(c).

  (5)   A person who wishes to rely on subsection   (3) or (4) bears an evidential burden in relation to that matter.