Exemptions or modifications may be granted by the AUSTRAC CEO under the provisions of sections 247 and 248 of the Anti-Money Laundering and Counter-Terrorism Financing Act 2006 (AML/CTF Act).
General exemptions - section 247 of the AML/CTF Act
Under section 247 of the AML/CTF Act exemptions may be made by way of AML/CTF Rules in certain circumstances. They are developed in consultation with industry and certain government agencies. They are made by the AUSTRAC CEO and are required to be registered and tabled in Parliament. AML/CTF Rules can be found on the AML/CTF Rules webpage.
Exemptions and modifications - section 248 of the AML/CTF Act
Under section 248 of the AML/CTF Act the AUSTRAC CEO may grant exemptions or modifications by written instrument. Exemptions or modifications made by the AUSTRAC CEO under this provision can be found on the 'Exemptions granted' web page.
Applying for an exemption or modification
When applying for an exemption or modification under the AML/CTF Act, please refer to the following requirements.
Apply in writing
All applications for exemptions or modifications must be in writing.
Refer to AUSTRAC's related policy and guidance note
AUSTRAC's Exemption policy and guidance note Exemptions and modifications under the AML/CTF Actprovide information and assistance regarding AUSTRAC's approach to exemptions and the application process. Referring to these publications when drafting applications can help avoid delays. It should be noted, however, that applications for exemptions or modifications may raise issues that take time to resolve.
Lodge applications electronically
The fastest way to have an application assessed is to email it to email@example.com.
Alternatively, it may be sent to:
Director, Technical Development and Advice
PO Box 5516
West Chatswood NSW 1515
AUSTRAC officers are able to assist applicants by providing general information about the AML/CTF Act.
Enquiries can be directed to the AUSTRAC Help Desk at firstname.lastname@example.org or phone 1300 021 037 (a local call within Australia).