Section 12‑2 Transitional—reports of suspicious - Anti-Money Laundering and Counter-Terrorism Financing Rules 2025 - 12‑2 Transitional—reports of suspicious matters by entities on Reporting Entities Roll at commencement

12‑2 Transitional—reports of suspicious 12‑2 Transitional—reports of suspicious matters by entities on Reporting Entities Roll at commencement

Start here

Get a plain-English read of 12‑2 Transitional—reports of suspicious

Turn the raw legal text into a practical explanation grounded in Anti-Money Laundering and Counter-Terrorism Financing Rules 2025.

12‑2 Transitional—reports of suspicious matters by entities on Reporting Entities Roll at commencement

(1) Subsection (2) applies if: (a) at the commencement of this instrument, a reporting entity is entered on the Reporting Entities Roll; and (b) a suspicious matter reporting obligation arises for the reporting entity in relation to a person; and (c) the reporting entity gives a report about the matter that complies with Chapter 18 of the Anti‑Money Laundering and Counter‑Terrorism Financing Rules Instrument 2007 (No. 1), as in force immediately before the commencement of this instrument; and (d) the report is given on or after 1 July 2026 and before the earlier of: (i) 30 March 2029; or (ii) the day specified in an instrument made under subsection (3). (2) The report is taken to include the information that must, under Division 1 of Part 9 of this instrument, be contained in a report under subsection 41(2) of the Act in relation to the suspicious matter reporting obligation. (3) The AUSTRAC CEO may, by notifiable instrument, specify a day for the purposes of subparagraph (1)(d)(ii).