26MReporting entities must notify AUSTRAC of entity’s AML/CTF compliance officer

26M  Reporting entities must notify AUSTRAC of entity’s AML/CTF compliance officer

 (1) A reporting entity must notify AUSTRAC of the individual who is designated as the reporting entity’s AML/CTF compliance officer within 14 days after the individual is designated as the AML/CTF compliance officer for the reporting entity.

 (2) A notice under subsection (1):

 (a) must be in the approved form; and

 (b) must contain such information, and be accompanied by such documents, as is required by the approved form.

 (3) Subsection (1) is a civil penalty provision.