236BApplication of this Act in relation to reporting groups

236B  Application of this Act in relation to reporting groups

Designated services of reporting group taken to be provided by lead entity for certain purposes

 (1) Subsection (2) applies if a reporting entity (the ordinary member) that is a member of a reporting group but is not the lead entity of the reporting group proposes to provide, commences to provide, or provides, a designated service.

 (2) For the purposes of Parts 1A, 2, 3A and 10, and Division 9 of Part 15, the lead entity is also taken to have proposed to provide, commenced to provide, or provided, as the case requires, the designated service in the same circumstances as those in which the service is proposed to be provided, is commenced to have been provided, or is provided, by the ordinary member.

Note: In relation to the application of Part 1A to reporting groups, see also section 26U (business of a lead entity of a reporting group).

 (3) For the purposes of subsection (2), the same circumstances include:

 (a) that a permanent establishment of the ordinary member is taken to be a permanent establishment of the lead entity; and

 (b) that the lead entity is taken to provide the designated service in the same capacity as the ordinary member; and

 (c) that the lead entity is taken to have received any information communicated either directly or indirectly by AUSTRAC to the ordinary member that identifies or assesses the risks associated with the ordinary member’s provision of the designated service; and

 (d) a circumstance specified by the AML/CTF Rules.

 (4) Subsection (3) does not limit subsection (2).

Discharge of obligations by members of a reporting group

 (a) a reporting entity is a member of a reporting group; and

 (b) an obligation is imposed on the reporting entity by a provision of this Act, the regulations or the AML/CTF Rules; and

 (c) such other conditions (if any) as are specified in the AML/CTF Rules are satisfied; and

 (d) the obligation is not of a kind, or does not arise in circumstances, specified in the AML/CTF Rules;

the obligation may be discharged by any other member of the reporting group.

Note: The member who discharges the obligation need not be a reporting entity.

Contraventions of civil penalty provisions by members of reporting groups

 (6) A civil penalty provision that would otherwise be contravened only by a reporting entity that is:

 (a) a member of a reporting group; and

 (b) not the lead entity of the reporting group;

is taken to have been contravened by both the reporting entity and the lead entity.