248Exemptions and modifications by the AUSTRAC CEO

#### 248 Exemptions and modifications by the AUSTRAC CEO (1) The AUSTRAC CEO may, by written instrument: (a) exempt a specified person from one or more specified provisions of this Act; or (b) declare that this Act applies in relation to a specified person as if one or more specified provisions of this Act were modified as specified in the declaration. (2) An exemption may apply: (a) unconditionally; or (b) subject to specified conditions. (3) A person to whom a condition specified in an exemption applies must comply with the condition. (4) Subsection (3) is a civil penalty provision. (5) A copy of an exemption or declaration must be made available on AUSTRAC’s website. (6) If conduct engaged in by a person would not have constituted: (a) an offence; or (b) a contravention of a civil penalty provision: if a particular declaration under paragraph (1)(b) had not been made, that conduct does not constitute an offence or a contravention of a civil penalty provision unless, before the conduct occurred: (c) a copy of the declaration was made available on AUSTRAC’s website; or (d) the AUSTRAC CEO gave the person a copy of the declaration. In a prosecution for an offence to which this subsection applies, the prosecution must prove that paragraph (c) or (d) was complied with before the conduct occurred. (7) An instrument under subsection (1) is not a legislative instrument.