Financial Transaction Reports Amendment (Transitional Arrangements) Bill 2008

Type: Government
Portfolio: Home Affairs
Originating house: House of Representatives
Status: Act
Parliament no: 42

Summary

Amends the Financial Transactions Reports Act 1988 to facilitate the transition to regulation under the Anti-Money Laundering and Counter- Terrorism Financing Act 2006 to: authorise certain cash dealers to continue reporting suspicious transactions, international funds transfer instructions and significant cash transactions to the Australian Transaction Reports and Analysis Centre (AUSTRAC); authorise solicitors, solicitor corporations and partnerships of solicitors to continue to provide AUSTRAC with cash transaction reports; and authorise certain cash dealers to enter transactions into their exemption register until 11 March 2010.

Progress

House of Representatives
Introduced and read a first time	18 Sep 2008
Second reading moved	18 Sep 2008
Second reading debate	13 Oct 2008
Second reading agreed to	13 Oct 2008
Third reading agreed to	13 Oct 2008

Senate
Introduced and read a first time	14 Oct 2008
Second reading moved	14 Oct 2008
Second reading debate	13 Nov 2008
Second reading agreed to	13 Nov 2008
Third reading agreed to	13 Nov 2008


Text of bill as passed both Houses	13 Nov 2008
Assent Act no.: 124 Year: 2008	25 Nov 2008

Documents and transcripts

Text of bill

First reading

As passed by both Houses

Explanatory memoranda

Explanatory memorandum

Transcript of speeches

Proposed amendments

No proposed amendments have been circulated.

Schedules of amendments

No documents at present

Bills digest

Bills Digest

Notes

An electronic version of this Act is available on the Federal Register of Legislation (www.legislation.gov.au)

Helpful information

Text of bill

First reading: Text of the bill as introduced into the Parliament
Third reading: Prepared if the bill is amended by the house in which it was introduced. This version of the bill is then considered by the second house.
As passed by both houses: Final text of bill agreed to by both the House of Representatives and the Senate which is presented to the Governor-General for assent.

Explanatory memoranda

Explanatory memorandum: Accompanies and provides an explanation of the content of the introduced version (first reading) of the bill.
Supplementary explanatory memorandum: Accompanies and explains amendments proposed by the government to the bill.
Revised explanatory memorandum: Accompanies and explains the amended version (third reading) of the bill. It supersedes the explanatory memorandum.

Proposed amendments

Circulated by members and senators when they propose to make changes to the bill. For details about the outcome of proposed amendments please refer to either the Votes and Proceedings (House of Representatives) or the Journals (Senate).

Schedules of amendments

Schedules of amendments list amendments agreed to by the second house are communicated to the first house for consideration. Subsequent action by either house may also be included in a schedule.

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