The black economy is becoming a larger focus to the Australian Government and there are implications to Clubs’ and Hotels’ AML/CTF compliance and obligations. So how does this affect your venue?
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Having reviewed and re-written many constitutions now, we have determined the best six features that we’ve seen.
Tabcorp was fined the highest civil penalty in Australian corporate history, $45 million, for the breach of money laundering and terrorism financing laws as a result of a civil action launched by Australian Transaction Reports and Analysis Centre (AUSTRAC).
The Christmas decorations have come down, the New Year celebrations are over and Australia Day is a distant memory, it’s time to take some relaxation time… Sorry to be the bearer of bad news, but with March comes the deadline for your AUSTRAC report.
It’s clear that boards can no longer claim to be ‘hands off’ and therefore not responsible for the major operational events of the organisation. More and more, courts and regulators are saying that the board must know what is occurring at the operational level.
As you are all aware, from the 1st February 2017 you may well be required to manage a ‘lock out’ provision at your venue. While there has been considerable media comment, it is best that you prepare and be ready to comply.
Work Health & Safety Regulations are not overly clear and the lack of understanding means the majority of us choose to avoid WHS until we receive a warning from the Safety Officer to ‘do things better’ next time. What if there is no next time?
By investing in safety and compliance you can save yourself and your business not only money, but also valuable resources.
As of yesterday, the Board of Parramatta Leagues Club have been officially been removed as the governing body of the club and administrators have assumed control following an independent review by the NSW Independent Liquor and Gaming Authority (ILGA).