EXPLANATORY STATEMENT
Cash Transaction Reports Act 1988 - No 340
Cash Transaction Reports Regulations (Amendment)
(Regulations to commence on 31 January 1991)
Section 43 of the Cash Transaction Reports Act 1988 provides that the Governor-General may make regulations for the purposes of the Act.
The Cash Transaction Reports Regulations are amended by Regulations which commence on 1 February 1991. It is necessary to make complementary amendments to the Cash Transaction Reports Regulations which make formal changes to the Cash Transaction Reports Regulations. Details of the Regulations are as follows:
Regulation 1: Regulation 1 specifies 31 January 1991 as the commencement date for the proposed Regulations. This will anticipate the related amendments to the Cash Transaction Reports Regulations which will commence on 1 February 1991.
Regulation 2: Regulation 2 identifies the Cash Transaction Reports Regulations as the principal Regulations to be amended by the proposed Regulations.
Regulation 3: Regulation 3 amends the principal Regulations by renumbering existing regulations 2A, 2B, 2C and 3 as regulations 12, 13, 14 and 15. This renumbering is a consequence of the inserting of new regulations 3 to 11 inclusive which is proposed by the related Regulations referred to above.
Attorney-General