After subsection 21A(1)
101 After subsection 21A(1)
Insert:
This section does not apply to an individual who wishes to open an account if the account is opened after the commencement of Division 1 of Part 2 of the Anti‑Money Laundering and Counter‑Terrorism Financing Act 2006 in circumstances that amount to the provision of a designated service.
This section does not apply to an individual who wishes to become a signatory to an account with an identifying cash dealer in a name by which the individual intends to be commonly known if:
the individual wishes to become a signatory to the account in that name after the commencement of Division 1 of Part 2 of the Anti‑Money Laundering and Counter‑Terrorism Financing Act 2006; and
either:
the account is opened after the commencement of Division 1 of Part 2 of the Anti‑Money Laundering and Counter‑Terrorism Financing Act 2006 in circumstances that amount to the provision of a designated service; or
the account was opened before the commencement of that Division in circumstances that would have amounted to the provision of a designated service if all the provisions of Parts 1 and 2 of that Act had been in force at the relevant time.
The statute text is free to read above. View Pro plans to unlock the case-law research tools for each provision.