Commonwealth legislation

Australian Transaction Reports and Analysis Centre Supervisory Cost Recovery Levy (Consequential Amendments) Act 2011 - Proclamation

RepealedCTH

This Act has been repealed and is no longer in force. It is retained for historical reference.

Jurisdiction

Commonwealth

Collection

legislative instrument

Plain English Summary

1/10 complexity

This document is a formal proclamation by the Governor-General that acts as the 'starting gun' for part of a law. It declares that Schedule 1 of the Australian Transaction Reports and Analysis Centre Supervisory Cost Recovery Levy (Consequential Amendments) Act 2011 comes into force on 1 November 2011.

What this means:

AUSTRAC is the government agency that monitors financial transactions to prevent money laundering and terrorism financing
The Act being proclaimed makes technical changes to how AUSTRAC charges the banks, casinos, and other businesses it supervises to recover its regulatory costs
This proclamation simply sets the official start date for those changes (1 November 2011)

Why it exists: Some laws (or parts of them) don't start automatically when the Governor-General signs them. Instead, Parliament allows the government to pick the start date later via a formal proclamation like this one.

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Current sections

Direct links to the current provisions in Australian Transaction Reports and Analysis Centre Supervisory Cost Recovery Levy (Consequential Amendments) Act 2011 - Proclamation.

Australian Transaction Reports and Analysis Centre Supervisory Cost Recovery Levy (Consequential Amendments) Act 2011 - Proclamation

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Commonwealth Coat of Arms

Proclamation

Australian Transaction Reports and Analysis Centre Supervisory Cost Recovery Levy (Consequential Amendments) Act 2011

I, QUENTIN BRYCE, Governor-General of the Commonwealth of Australia, acting with the advice of the Federal Executive Council and under item 2 of the table in subsection 2 (1) of the Australian Transaction Reports and Analysis Centre Supervisory Cost Recovery Levy (Consequential Amendments) Act 2011, fix 1 November 2011 as the day on which Schedule 1 to that Act commences.

Signed and sealed with the Great Seal of Australia on 29 September 2011

QUENTIN BRYCE Governor-General

By Her Excellency’s Command

BRENDAN O’CONNOR

Minister for Justice

Source text

Sourced from the Federal Register of Legislation (legislation.gov.au), CC BY 4.0.