Section 127 - Anti-Money Laundering and Counter-Terrorism Financing Act 2006 - Disclosure of AUSTRAC information to foreign countries or agencies

127Disclosure of AUSTRAC information to foreign countries or agencies

Start here

Get a plain-English read of 127

Turn the raw legal text into a practical explanation grounded in Anti-Money Laundering and Counter-Terrorism Financing Act 2006.

#### 127 Disclosure of AUSTRAC information to foreign countries or agencies AUSTRAC CEO (1) The AUSTRAC CEO may disclose AUSTRAC information to the government of a foreign country, or to a foreign agency, if the AUSTRAC CEO is satisfied that: (a) where the AUSTRAC CEO considers it appropriate, the government of the foreign country, or the foreign agency, has given an undertaking for: (i) protecting the confidentiality of the information; and (ii) controlling the use that will be made of the information; and (iii) ensuring that the information will be used only for the purpose for which it is disclosed to the government of the foreign country or to the foreign agency; and (b) it is appropriate, in all the circumstances of the case, to do so. Commonwealth, State or Territory agencies (2) A person who is: (a) the head (however described) of a Commonwealth, State or Territory agency prescribed by the AML/CTF Rules; or (b) covered by an authorisation under subsection (4); may disclose AUSTRAC information to the government of a foreign country, or to a foreign agency, if the person is satisfied that: (c) the government of the foreign country, or the foreign agency, has given an undertaking for: (i) protecting the confidentiality of the information; and (ii) controlling the use that will be made of the information; and (iii) ensuring that the information will be used only for the purpose for which it is disclosed to the government of the foreign country or to the foreign agency; and (d) it is appropriate, in all the circumstances of the case, to do so. Authorisations (4) For the purposes of paragraph (2)(b), the head (however described) of a Commonwealth, State or Territory agency prescribed by the AML/CTF Rules for the purposes of paragraph 127(2)(a) may, in writing, authorise an official of the Commonwealth, State or Territory agency. > Note: For variation and revocation, see subsection 33(3) of the Acts Interpretation Act 1901. (5) An authorisation under subsection (4) is not a legislative instrument.