Anti-Money Laundering and Countering Financing of Terrorism Act 2009

Subpart 2Suspicious transaction reports

40 Reporting entities to report suspicious transactions
  • (1) Despite any other enactment or any rule of law, but subject to section 42 of this Act and to section 44(4) of the Terrorism Suppression Act 2002, this section applies if—

    • (a) a person conducts or seeks to conduct a transaction through a reporting entity; and

    (2) If this section applies, the reporting entity must, as soon as practicable, but no later than 3 working days after forming its suspicion, report the transaction or proposed transaction to the Commissioner, in accordance with section 41.

    (3) Nothing in subsection (2) requires any lawyer to disclose any privileged communication (as defined in section 42).

    Compare: 1996 No 9 ss 15(1), 19(1)