1. In order to achieve the objectives set out in this Regulation, and without prejudice to the respective competences of the Member States and the Union institutions, the Authority may develop contacts and enter into administrative arrangements with AML/CFT authorities in third countries that have regulatory, supervisory and FIU-related competences in the field of AML/CFT as well as with international organisations and third-country administrations. Those arrangements shall not create legal obligations in respect of the Union and its Member States nor shall they prevent Member States and their competent authorities from concluding bilateral or multilateral arrangements with those third countries.
2. The Authority may develop model administrative arrangements with a view to establishing consistent, efficient and effective practices within the Union and to strengthening international coordination and cooperation in the fight against ML/TF. Supervisory authorities and FIUs shall make ever
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