197Acceptance of undertakings

#### 197 Acceptance of undertakings (1) The AUSTRAC CEO may accept any of the following undertakings: (a) a written undertaking given by a person that the person will, in order to comply with this Act, the regulations or the AML/CTF Rules, take specified action; (b) a written undertaking given by a person that the person will, in order to comply with this Act, the regulations or the AML/CTF Rules, refrain from taking specified action; (c) a written undertaking given by a person that the person will take specified action directed towards ensuring that the person does not contravene this Act, the regulations or the AML/CTF Rules, or is unlikely to contravene this Act, the regulations or the AML/CTF Rules, in the future. (2) The undertaking must be expressed to be an undertaking under this section. (3) The person may withdraw or vary the undertaking at any time, but only with the consent of the AUSTRAC CEO. (4) The AUSTRAC CEO may, by written notice given to the person, cancel the undertaking. (5) The AUSTRAC CEO may publish a copy of the undertaking on AUSTRAC’s website, but the AUSTRAC CEO must delete from the copy information that the AUSTRAC CEO is satisfied: (a) is commercial in confidence; or (b) should not be released because it would be against the public interest to do so; or (c) consists of personal details of an individual. (6) If: (a) the AUSTRAC CEO publishes a copy of the undertaking on AUSTRAC’s website; and (b) the copy has information deleted from it; the copy must include a note stating that information has been deleted.