Electoral and Referendum Amendment Regulations 2008 (No. 2)

Overview

The Electoral and Referendum Amendment Regulations 2008 (No. 2) were introduced to address the need for authorised entities to access electoral roll information for specific regulatory purposes. Enacted under the authority of section 395 of the Commonwealth Electoral Act 1918 and section 144 of the Referendum (Machinery Provisions) Act 1984 by the Parliament of Australia, these regulations aim to facilitate the verification of identities and customer identification procedures in compliance with the Financial Transaction Reports Act 1988 and the Anti-Money Laundering and Counter-Terrorism Financing Act 2006. Betfair Pty Limited, having applied to be recognised as a prescribed entity, is now authorised to access electoral roll information to support these compliance efforts. The regulations came into effect on the day following their registration, reflecting a coordinated approach to enhancing electoral integrity and regulatory oversight.

Scope and Application

The Electoral and Referendum Amendment Regulations 2008 (No. 2) extend the application of the Commonwealth Electoral Act 1918 and the Referendum (Machinery Provisions) Act 1984 to include Betfair Pty Limited as a prescribed entity for the purposes of accessing electoral roll information. This access is specifically for verifying the identity of persons in accordance with the Financial Transaction Reports Act 1988 and for carrying out customer identification procedures under the Anti-Money Laundering and Counter-Terrorism Financing Act 2006. The Regulations were enacted under sections 395 and 144 of the respective Acts, allowing the Governor-General to make regulations that are necessary or convenient to give effect to these Acts. Betfair Pty Limited, having applied to be prescribed, now appears in the amended Electoral and Referendum Regulations 1940, which list entities permitted to receive electoral roll information for specified purposes. The Regulations do not exclude or exempt any other entities already listed for similar purposes under the Electoral Act, and they come into effect on the day after registration. This legislative amendment aims to bolster measures against financial crimes by ensuring that authorised entities have the necessary information to verify identities and conduct due diligence effectively.

Key Provisions

The Electoral and Referendum Amendment Regulations 2008 (No. 2) amend the Electoral and Referendum Regulations 1940 to prescribe that Betfair Pty Limited may be given electoral roll information. Regulation 3 specifies the amendments to the existing regulations, with the most significant changes occurring in Schedule 1. Under this schedule, Betfair Pty Limited is added to the list of entities permitted to receive electoral roll information. Specifically, item 2 of the schedule adds Betfair Pty Limited to the table in subregulation 7(1), which specifies entities for the purposes of items 5 and 7 of the table in subsection 90B(4) of the Electoral Act. This addition allows Betfair Pty Limited to access electoral roll information for the purposes of the Financial Transaction Reports Act 1988. Similarly, item 3 adds Betfair Pty Limited to the table for the purposes of item 6 of the table in subsection 90B(4) of the Electoral Act, enabling it to access electoral roll information to carry out customer identification procedures under the Anti-Money Laundering and Counter-Terrorism Financing Act 2006. The regulations impose obligations on Betfair Pty Limited and other specified entities to use the electoral roll information provided strictly for the purposes outlined in the Financial Transaction Reports Act 1988 and the Anti-Money Laundering and Counter-Terrorism Financing Act 2006. This means that Betfair Pty Limited must ensure that the information is used solely for verifying the identity of individuals and for carrying out necessary customer identification procedures. Any misuse or unauthorised disclosure of the electoral roll information is strictly prohibited and would be considered a breach of the regulations. Breaches of these regulations can lead to serious consequences. Under the Electoral Act, any entity that misuses electoral roll information could face civil or criminal penalties. The maximum penalties for misuse of electoral roll information can include fines and imprisonment. Specifically, according to section 136 of the Electoral Act, a person who intentionally or recklessly uses electoral roll information for an unauthorised purpose can be fined up to $10,200 or face imprisonment for up to one year, or both. For companies, the fines can be substantially higher, with penalties reaching up to $51,000. These stringent penalties underscore the importance of adhering to the regulations and using the information solely for the prescribed purposes.