I, Neil J Jensen, Chief Executive Officer, Australian Transaction Reports and Analysis Centre, make this Instrument under section 229 of the Anti-Money Laundering and Counter-Terrorism Financing Act 2006.

Dated 9 December 2008

[Signed]

1 Name of Instrument

  This Instrument is the Anti-Money Laundering and Counter-Terrorism Financing Rules Amendment Instrument 2008 (No. 8).

2 Commencement

 This Instrument commences on the day after it is registered.

3 Amendment

 Schedule 1 amends the Anti-Money Laundering and Counter-Terrorism Financing Rules Instrument 2007 (No. 1).

Schedule 1 Amendment of the Anti-Money Laundering and Counter-Terrorism Financing Rules Instrument 2007 (No. 1).

1. Chapter 11, paragraph 11.2

substitute

 For paragraph 47(1)(a) of the AML/CTF Act, a reporting period is:

(1) the period beginning on 13 December 2006 and ending on 31 December 2007; and

(2) the period beginning on 1 January 2008 and ending on 31 December 2008.

Reporting entities should note that in relation to activities they undertake to comply with the AML/CTF Act, they will have obligations under the Privacy Act 1988, including the requirement to comply with the National Privacy Principles, even if they would otherwise be exempt from the Privacy Act.  For further information about these obligations, please go to http://www.privacy.gov.au or call 1300 363 992.