Australian Transaction Reports and Analysis Centre Supervisory Cost Recovery Levy Bill 2011; Australian Transaction Reports and Analysis Centre Supervisory Cost Recovery Levy (Collection) Bill 2011; and Australian Transaction Reports and Analysis Centre Supervisory Cost Recovery Levy (Consequential Amendments) Bill 2011 [Provisions]
Information about the Inquiry
On 12 May 2011 the Senate referred the Australian Transaction Reports and Analysis Centre Supervisory Cost Recovery Levy (Consequential Amendments) Bill 2011 for inquiry and report.
These three related Bills give effect to a 2010-11 Budget announcement that the Australian Transaction Reports and Analysis Centre (AUSTRAC) will recover the costs of its supervisory activities.
The Australian Transaction Reports and Analysis Centre Supervisory Cost Recovery Levy Bill 2011 creates the liability to levy. The Australian Transaction Reports and Analysis Centre Supervisory Cost Recovery Levy (Collection) Bill 2011 provides for the collection of the levy and related administrative matters, such as issuing notice of assessments and late payment penalties. The Australian Transaction Reports and Analysis Centre Supervisory Cost Recovery Levy (Consequential Amendments) Bill 2011 amends the Anti-Money Laundering and Counter-Terrorism Financing Act 2006 to make it mandatory for reporting entities to enrol with AUSTRAC.
Submissions should be received by 27 May 2011. The reporting date is 16 June 2011. On 16 June 2011,the Senate granted an extension of time for reporting until 20 June 2011.
The Committee is seeking written submissions from interested individuals and organisations preferably in electronic form submitted online or sent by email to legcon.sen@aph.gov.au as an attached Adobe PDF or MS Word format document. The email must include full postal address and contact details.
Alternatively, written submissions may be sent to:
Committee Secretary
Senate Legal and Constitutional Committees
PO Box 6100
Parliament House
Canberra ACT 2600
Australia
Notes to help you prepare your submission are available from the website at https://www.aph.gov.au/senate/committee/wit_sub/index.htm. Alternatively, the Committee Secretariat will be able to help you with your inquiries and can be contacted on telephone +61 2 6277 3560 or facsimile +61 2 6277 5794 or by email to legcon.sen@aph.gov.au.
Inquiries from hearing and speech impaired people should be directed to Parliament House TTY number 02 6277 7799. Adobe also provides tools at http://access.adobe.com/ for the blind and visually impaired to access PDF documents. If you require any special arrangements to enable you to participate in the Committee's inquiry, please contact the Committee Secretariat.
Once the Committee accepts your submission, it becomes a confidential Committee document and is protected by Parliamentary Privilege. You must not release your submission without the Committee's permission. If you do, it will not be protected by Parliamentary Privilege. At some stage during the inquiry, the Committee normally makes submissions public and places them on its website. Please indicate if you want your submission to be kept confidential.
For further information, contact: Committee Secretary
Senate Legal and Constitutional Committees
PO Box 6100
Parliament House
Canberra ACT 2600
Australia