In accordance with the the recommendation of the Senate Legal and Constitutional Affairs Legislation Committee, the Senate has passed the package of 3 Bills including the Australian Transaction Reports and Analysis Centre Supervisory Cost Recovery Levy Bill 2011 . (Background). The main Bill has now been passed by both Houses and is awaiting Royal assent.

UPDATE: The main Bill was assented to on 28 June 2011.Download Act.

The House of Representatives will now consider the amendments made by the Senate to the Australian Transaction Reports and Analysis Centre Supervisory Cost Recovery Levy (Collection) Bill and the Australian Transaction Reports and Analysis Centre Supervisory Cost Recovery Levy (Consequential Amendments) Bill 2011.

UPDATE: These Bills were passed and assented to on 28 June 2011.

The Bills enable AUSTRAC to recover the costs of its supervisory activities from reporting entities from 1 July 2011.