Anti-Money Laundering and Countering Financing of Terrorism Amendment Act 2017

  • Corrections have been made to Schedule 1 on 14 August 2017 under section 25(1)(j)(iii) of the Legislation Act 2012.
28 Section 57 amended (Minimum requirements for AML/CFT programmes)

(1)

In section 57, after “programme must”, insert “be in writing and”.

(2)

In section 57(d), replace “suspicious transactions” with “suspicious activities”.

(3)

In section 57, insert as subsection (2):

(2)

In developing an AML/CFT programme, a reporting entity must have regard to any applicable guidance material produced by AML/CFT supervisors or the Commissioner relating to AML/CFT programmes.