How many reports are too many?

Under the proposed AML Amendment Act anyone assisting a person in the planning or execution of a transaction or otherwise acting for or on behalf of a person in a transaction to buy, sell or transfer real estate will be subject to the Act. This is in addition to the real estate agent.

In an insolvency situation such as a receivership, the AML could apply to the receiver, its solicitor, its agent and the purchaser’s solicitor. How many people are required to report the same transaction? Surely this is overkill.