Definitions
6 Definitions
In this Act:
AUSTRAC has the same meaning as in the Anti‑Money Laundering and Counter‑Terrorism Financing Act 2006.
AUSTRAC CEO has the same meaning as in the Anti‑Money Laundering and Counter‑Terrorism Financing Act 2006.
business day means a day that is not a Saturday, a Sunday, a public holiday or a bank holiday in the place concerned.
late payment penalty means penalty payable under section 9.
leviable entity, in relation to a financial year, has the same meaning as in the Australian Transaction Reports and Analysis Centre Industry Contribution Act 2011.
levy means levy imposed by the Australian Transaction Reports and Analysis Centre Industry Contribution Act 2011.
levy month means one of the 12 months of the calendar year.
person has the same meaning as in the Anti‑Money Laundering and Counter‑Terrorism Financing Act 2006.
This Act applies to a partnership, unincorporated association or trust as if the partnership, unincorporated association or trust were a person, but with the following changes:
an obligation that would otherwise be imposed on the partnership by this Act is imposed on each partner instead, but may be discharged by any of the partners;
an obligation that would otherwise be imposed on the association by this Act is imposed on each member of the association’s committee of management instead, but may be discharged by any of the members;
an obligation that would otherwise be imposed on the trust by this Act is imposed on each trustee instead, but may be discharged by any of the trustees.
This Act’s bill:Explanatory memorandumSecond reading speech
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