Australian Transaction Reports and Analysis Centre Industry Contribution (Collection) Act 2011 (Cth)

Australian Transaction Reports and Analysis Centre Industry Contribution (Collection) Act 2011

No. 55, 2011

Compilation No. 2

Compilation date: 14 October 2024

Includes amendments: Act No. 38, 2024

About this compilation

This compilation

This is a compilation of the Australian Transaction Reports and Analysis Centre Industry Contribution (Collection) Act 2011 that shows the text of the law as amended and in force on 14 October 2024 (the compilation date).

The notes at the end of this compilation (the endnotes) include information about amending laws and the amendment history of provisions of the compiled law.

Uncommenced amendments

The effect of uncommenced amendments is not shown in the text of the compiled law. Any uncommenced amendments affecting the law are accessible on the Register ( The details of amendments made up to, but not commenced at, the compilation date are underlined in the endnotes. For more information on any uncommenced amendments, see the Register for the compiled law.

Application, saving and transitional provisions for provisions and amendments

If the operation of a provision or amendment of the compiled law is affected by an application, saving or transitional provision that is not included in this compilation, details are included in the endnotes.

Editorial changes

For more information about any editorial changes made in this compilation, see the endnotes.

Modifications

If the compiled law is modified by another law, the compiled law operates as modified but the modification does not amend the text of the law. Accordingly, this compilation does not show the text of the compiled law as modified. For more information on any modifications, see the Register for the compiled law.

Self‑repealing provisions

If a provision of the compiled law has been repealed in accordance with a provision of the law, details are included in the endnotes.

Contents

An Act to provide for the collection of levies imposed on persons regulated by the Australian Transaction Reports and Analysis Centre, and for related purposes

1Short title

This Act may be cited as the Australian Transaction Reports and Analysis Centre Industry Contribution (Collection) Act 2011.

2Commencement

1. (1)

   Each provision of this Act specified in column 1 of the table commences, or is taken to have commenced, in accordance with column 2 of the table. Any other statement in column 2 has effect according to its terms.

Commencement information
Column 1	Column 2	Column 3
Provision(s)	Commencement	Date/Details
1. Sections 1 and 2 and anything in this Act not elsewhere covered by this table	The day this Act receives the Royal Assent.	28 June 2011
2. Sections 3 to 8	At the same time as section 3 of the Australian Transaction Reports and Analysis Centre Supervisory Cost Recovery Levy Act 2011 commences.	1 July 2011
3. Section 9	At the end of 6 months after section 3 of the Australian Transaction Reports and Analysis Centre Supervisory Cost Recovery Levy Act 2011 commences.	1 January 2012
4. Sections 10 to 16	At the same time as section 3 of the Australian Transaction Reports and Analysis Centre Supervisory Cost Recovery Levy Act 2011 commences.	1 July 2011

Note: This table relates only to the provisions of this Act as originally enacted. It will not be amended to deal with any later amendments of this Act.

(2)

Any information in column 3 of the table is not part of this Act. Information may be inserted in this column, or information in it may be edited, in any published version of this Act.

3Act binds the Crown

This Act binds the Crown in each of its capacities.

4External Territories

This Act extends to every external Territory.

5Extraterritorial application

This Act extends to acts, omissions, matters and things outside Australia.

6Definitions

1. (1)

   In this Act:

   AUSTRAC has the same meaning as in the Anti‑Money Laundering and Counter‑Terrorism Financing Act 2006.

   AUSTRAC CEO has the same meaning as in the Anti‑Money Laundering and Counter‑Terrorism Financing Act 2006.

   business day means a day that is not a Saturday, a Sunday, a public holiday or a bank holiday in the place concerned.

   late payment penalty means penalty payable under section 9.

   leviable entity, in relation to a financial year, has the same meaning as in the Australian Transaction Reports and Analysis Centre Industry Contribution Act 2011.

   levy means levy imposed by the Australian Transaction Reports and Analysis Centre Industry Contribution Act 2011.

   levy month means one of the 12 months of the calendar year.

   person has the same meaning as in the Anti‑Money Laundering and Counter‑Terrorism Financing Act 2006.

2. (2)

   This Act applies to a partnership, unincorporated association or trust as if the partnership, unincorporated association or trust were a person, but with the following changes:

   1. (a)

      an obligation that would otherwise be imposed on the partnership by this Act is imposed on each partner instead, but may be discharged by any of the partners;

   2. (b)

      an obligation that would otherwise be imposed on the association by this Act is imposed on each member of the association’s committee of management instead, but may be discharged by any of the members;

   3. (c)

      an obligation that would otherwise be imposed on the trust by this Act is imposed on each trustee instead, but may be discharged by any of the trustees.

7Liability to pay levy

A person who is a leviable entity for a financial year is liable to pay levy, in one or more instalments, for that financial year.

8When instalment of levy due for payment

1. (1)

   An instalment of levy payable by a person for a financial year is due and payable on a business day that is:

   1. (a)

      specified in a notice that the AUSTRAC CEO gives to the person in relation to the instalment; and

   2. (b)

      not earlier than 30 days after the beginning of the financial year; and

   3. (c)

      not earlier than 30 days after the day on which the notice is given.

2. (2)

   If the person nominates another person by written notice given to the AUSTRAC CEO:

   1. (a)

      the notice under paragraph (1)(a) of this section may be given to the nominated person; and

   2. (b)

      the obligation imposed on the person by subsection (1) of this section may be discharged by the nominated person.

3. (3)

   To avoid doubt, subsection (2) does not otherwise affect the person’s liability under section 7.

9Late payment penalty

1. (1)

   If any instalment of levy payable by a person remains unpaid at the start of the levy month after the instalment became due for payment, the person is liable to pay the Commonwealth, for that levy month, a penalty worked out using the following formula:

2. (2)

   Late payment penalty for a levy month is due and payable at the end of the levy month.

3. (3)

   However, the AUSTRAC CEO may, by written notice given to the person before, on or after the day on which late payment penalty would be due and payable apart from this subsection, specify a later day as the day on which the late payment penalty is due and payable. The notice has effect, and is taken always to have had effect, according to its terms.

10Payment of levy and late payment penalty

An instalment of levy and late payment penalty are payable to the AUSTRAC CEO on behalf of the Commonwealth.

11Waiver of levy and late payment penalty

1. (1)

   The AUSTRAC CEO may, on behalf of the Commonwealth, if the AUSTRAC CEO considers it is appropriate to do so, waive the payment of the whole or a part of an amount of levy or late payment penalty (or both) that is payable by a person.

2. (2)

   The AUSTRAC CEO may do so on his or her own initiative or on written application by a person.

12Recovery of levy and late payment penalty

1. (1)

   The following amounts may be recovered by the Commonwealth from a person as debts due to the Commonwealth:

   1. (a)

      an instalment of levy that is due and payable by the person;

   2. (b)

      late payment penalty that is due and payable by the person.

2. (2)

   The AUSTRAC CEO is authorised, as agent of the Commonwealth, to bring proceedings in the name of the Commonwealth for the recovery of a debt due to the Commonwealth of a kind mentioned in subsection (1).

13Exempting laws ineffective

1. (1)

   Nothing in a law passed before the commencement of this section exempts a person from liability to pay levy.

2. (2)

   If a law (including a provision of a law) passed after the commencement of this section purports to exempt a person from:

   1. (a)

      liability to pay taxes under laws of the Commonwealth; or

   2. (b)

      liability to pay certain taxes under laws of the Commonwealth that would otherwise include levy;

   the law does not operate to exempt the person from liability to pay levy unless the exemption expressly refers to levy under this Act.

3. (3)

   To avoid doubt, this section does not apply in relation to an exemption under this Act or the Australian Transaction Reports and Analysis Centre Industry Contribution Act 2011.

14Internal review of certain decisions

1. (1)

   A person who is affected by a decision of the AUSTRAC CEO under section 11 may, if dissatisfied with the decision, request the AUSTRAC CEO to reconsider the decision.

2. (2)

   The request must:

   1. (a)

      be made by notice given to the AUSTRAC CEO within:

      1. (i)

         the period of 21 days after the day on which the person first receives notice of the decision; or

      2. (ii)

         any further period that the AUSTRAC CEO allows; and

   2. (b)

      set out the reasons for making the request.

3. (3)

   After receiving the request, the AUSTRAC CEO must review the decision or cause the decision to be reviewed by a person:

   1. (a)

      to whom the AUSTRAC CEO’s power under this section is delegated; and

   2. (b)

      who was not involved in the making of the decision; and

   3. (c)

      who occupies a position in AUSTRAC that is senior to that occupied by a person involved in the making of the decision.

4. (4)

   Within 42 days after receiving the request, the person reviewing the decision must:

   1. (a)

      reconsider the decision; and

   2. (b)

      confirm, revoke or vary the decision, as the person thinks fit.

5. (5)

   If the person reviewing the decision does not confirm, revoke or vary the decision within the period of 42 days after receiving the request, he or she is taken to have confirmed the decision under subsection (4) immediately after the end of that period.

6. (6)

   The person reviewing the decision must give a notice in writing to the person that made the request that sets out the result of the reconsideration of the decision and gives the reasons for his or her decision.

15Administrative Review Tribunal review of certain decisions

Applications may be made to the Administrative Review Tribunal for review of:

1. (a)

   a decision of the AUSTRAC CEO that has been confirmed or varied under subsection 14(4) or a decision that has been taken to have been confirmed under subsection 14(5); or

2. (b)

   a decision of the AUSTRAC CEO under subsection 14(4) to revoke a decision.

16Regulations

The Governor‑General may make regulations prescribing matters:

1. (a)

   required or permitted by this Act to be prescribed; or

2. (b)

   necessary or convenient to be prescribed for carrying out or giving effect to this Act.

17Review of operation of levy

1. (1)

   The Minister must cause an independent review of the operation of the levy to be undertaken as soon as possible after the fourth anniversary of the commencement of the Australian Transaction Reports and Analysis Centre Supervisory Cost Recovery Levy (Collection) Amendment Act 2014.

2. (2)

   The person who undertakes the review must:

   1. (a)

      consult with industry participants about the impact of the levy and the costs of complying with the Australian Transaction Reports and Analysis Centre Industry Contribution Act 2011; and

   2. (b)

      give the Minister a written report of the review within 6 months after the fourth anniversary of the commencement of the Australian Transaction Reports and Analysis Centre Supervisory Cost Recovery Levy (Collection) Amendment Act 2014.

3. (3)

   The Minister must cause a copy of the report of the review to be tabled in each House of Parliament within 15 sitting days of receiving it.

4. (4)

   A report prepared under subsection (2) must include (but is not limited to):

   1. (a)

      a review of the methodology used to calculate instalments of levy; and

   2. (b)

      a summary of the consultations undertaken under paragraph (2)(a).

Endnotes

Endnote 1About the endnotes

The endnotes provide information about this compilation and the compiled law.

The following endnotes are included in every compilation:

Endnote 1—About the endnotes

Endnote 2—Abbreviation key

Endnote 3—Legislation history

Endnote 4—Amendment history

Abbreviation key—Endnote 2

The abbreviation key sets out abbreviations that may be used in the endnotes.

Legislation history and amendment history—Endnotes 3 and 4

Amending laws are annotated in the legislation history and amendment history.

The legislation history in endnote 3 provides information about each law that has amended (or will amend) the compiled law. The information includes commencement details for amending laws and details of any application, saving or transitional provisions that are not included in this compilation.

The amendment history in endnote 4 provides information about amendments at the provision (generally section or equivalent) level. It also includes information about any provision of the compiled law that has been repealed in accordance with a provision of the law.

Editorial changes

The Legislation Act 2003 authorises First Parliamentary Counsel to make editorial and presentational changes to a compiled law in preparing a compilation of the law for registration. The changes must not change the effect of the law. Editorial changes take effect from the compilation registration date.

If the compilation includes editorial changes, the endnotes include a brief outline of the changes in general terms. Full details of any changes can be obtained from the Office of Parliamentary Counsel.

Misdescribed amendments

A misdescribed amendment is an amendment that does not accurately describe how an amendment is to be made. If, despite the misdescription, the amendment can be given effect as intended, then the misdescribed amendment can be incorporated through an editorial change made under section 15V of the Legislation Act 2003.

If a misdescribed amendment cannot be given effect as intended, the amendment is not incorporated and “(md not incorp)” is added to the amendment history.

Endnote 2Abbreviation key

ad = added or inserted	o = order(s)
am = amended	Ord = Ordinance
amdt = amendment	orig = original
c = clause(s)	par = paragraph(s)/subparagraph(s)
C[x] = Compilation No. x	/sub‑subparagraph(s)
Ch = Chapter(s)	pres = present
def = definition(s)	prev = previous
Dict = Dictionary	(prev…) = previously
disallowed = disallowed by Parliament	Pt = Part(s)
Div = Division(s)	r = regulation(s)/rule(s)
ed = editorial change	reloc = relocated
exp = expires/expired or ceases/ceased to have	renum = renumbered
effect	rep = repealed
F = Federal Register of Legislation	rs = repealed and substituted
gaz = gazette	s = section(s)/subsection(s)
LA = Legislation Act 2003	Sch = Schedule(s)
LIA = Legislative Instruments Act 2003	Sdiv = Subdivision(s)
(md) = misdescribed amendment can be given	SLI = Select Legislative Instrument
effect	SR = Statutory Rules
(md not incorp) = misdescribed amendment	Sub‑Ch = Sub‑Chapter(s)
cannot be given effect	SubPt = Subpart(s)
mod = modified/modification	underlining = whole or part not
No. = Number(s)	commenced or to be commenced

Endnote 3Legislation history

Act	Number and year	Assent	Commencement	Application, saving and transitional provisions
Australian Transaction Reports and Analysis Centre Supervisory Cost Recovery Levy (Collection) Act 2011	55, 2011	28 June 2011	s 3–8 and 10–6: 1 July 2011 (s 2(1) items 2, 4) s 9: 1 Jan 2012 (s 2(1) item 3) Remainder: 28 June 2011 (s 2(1) item 1)
Australian Transaction Reports and Analysis Centre Supervisory Cost Recovery Levy (Collection) Amendment Act 2014	112, 2014	21 Oct 2014	22 Oct 2014 (s 2)	Sch 1 (item 12)
Administrative Review Tribunal (Consequential and Transitional Provisions No. 1) Act 2024	38, 2024	31 May 2024	Sch 6 (item 9): 14 Oct 2024 (s 2(1) item 2)	—

Endnote 4Amendment history

Provision affected	How affected
s 1.............................................	am No 112, 2014
s 6.............................................	am No 112, 2014
s 7.............................................	rs No 112, 2014
hdg to s 8...................................	rs No 112, 2014
s 8.............................................	am No 112, 2014
s 9.............................................	am No 112, 2014
s 10............................................	am No 112, 2014
s 12............................................	am No 112, 2014
s 13............................................	am No 112, 2014
s 15............................................	am No 38, 2024
s 17............................................	ad No 112, 2014