s 233K

Exemption—operating no more than 15 gaming machines

In force

Scope

(1)

This section applies to a reporting entity if:

(a)

the reporting entity and any related entity (within the meaning of the Corporations Act 2001) that is a reporting entity have a total entitlement under licences issued by one or more States or Territories to operate no more than 15 gaming machines; and

(b)

the reporting entity and any related entity (within the meaning of the Corporations Act 2001) that is a reporting entity only provide one or more designated services covered by any of the following:

(i)

item 5 of table 3 in section 6;

(ii)

item 6 of table 3 in section 6;

(iii)

item 8 of table 3 in section 6;

(iv)

item 9 of table 3 in section 6;

(v)

item 10 of table 3 in section 6; and

(c)

the provision of any designated services referred to in subparagraph (b)(ii), (iii) or (iv) involves a game played on a gaming machine.

Exemption

(2)

The following provisions of the Act do not apply to the reporting entity:

(a)

Part 1A;

(b)

Divisions 2 to 6 of Part 2;

(c)

sections 37 and 38 of Division 7 of Part 2;

(d)

section 43;

(e)

section 45;

(f)

Division 5 of Part 3;

(g)

Part 5;

(h)

Division 1 of Part 10;

(i)

sections 109 and 110;

(j)

Divisions 3 to 7 of Part 10;

(k)

section 236B.

Schedule 11—Repeal of the Financial Transaction Reports Act 1988

Part 1—Repeals

Financial Transaction Reports Act 1988

1 The whole of the Act

Repeal the Act.

Part 2—Consequential amendments

Division 1—Amendment of the Anti‑Money Laundering and Counter‑Terrorism Financing Act 2006

Anti‑Money Laundering and Counter‑Terrorism Financing Act 2006

2 Section 5 (paragraph (g) of the definition of AUSTRAC entrusted person)

Omit “repealed section 40A of the”, substitute “section 40A of the repealed”.

3 Section 5 (note to the definition of AUSTRAC entrusted person)

Before “Financial”, insert “repealed”.

4 Section 5 (paragraph (d) of the definition of AUSTRAC information)

After “1988”, insert “, as in force immediately before its repeal”.

5 Subsection 49(1)

After “CEO under section 41, 43 or 45”, insert “of this Act, or a reporting entity communicated information to the AUSTRAC CEO under subsection 16(1) or (1A) of the repealed Financial Transaction Reports Act 1988”.

6 Subparagraph 49(1)(i)(ii)

After “45”, insert “of this Act, or subsection 16(1) or (1A) of the repealed Financial Transaction Reports Act 1988,”.

7 Subsection 50A(3)

Before “Financial”, insert “repealed”.

8 At the end of Division 3 of Part 10

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