Australian Transaction Reports and Analysis Centre Supervisory Cost Recovery Levy (Consequential Amendments) Act 2011
51BReporting entities must enrol
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51B Reporting entities must enrol
(1) If a person’s name is not entered on the Reporting Entities Roll, the person must: (a) if the person provided a designated service during the period of 28 days before the commencement of this section—apply in writing to the AUSTRAC CEO under subsection 51E(1) within 28 days after the commencement of this section; or (b) if the person commences to provide a designated service after the commencement of this section—apply in writing to the AUSTRAC CEO under subsection 51E(1) within 28 days after commencing to provide the designated service. (2) Subsection (1) does not apply if the person: (a) has applied under subsection 51E(1) in relation to the provision of another designated service; and (b) has not since requested under section 51G that the AUSTRAC CEO remove the person’s name and enrolment details from the Reporting Entities Roll. Civil penalty (3) Subsection (1) is a civil penalty provision.