Anti-Money Laundering and Counter-Terrorism Financing Rules Amendment Instrument 2014 (No. 1) (Cth)

Anti-Money Laundering and Counter-Terrorism Financing Rules Amendment Instrument 2014 (No. 1)

Anti-Money Laundering and Counter-Terrorism Financing Act 2006

I, John Lance Schmidt, 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 21 January 2014

[Signed]

John Lance Schmidt

Chief Executive Officer

Australian Transaction Reports and Analysis Centre

1Name of Instrument

This Instrument is the Anti-Money Laundering and Counter-Terrorism Financing Rules Amendment Instrument 2014 (No. 1).

2Commencement

This Instrument commences on the day after it is registered.

3Amendment

Schedules 1 and 2 amend the Anti-Money Laundering and Counter-Terrorism Financing Rules Instrument 2007 (No. 1).

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

1.Chapter 1

Item 1In paragraph 1.2.1 relating to subparagraph (5) of the definition ofprimary non-photographic identification document:

omit

(5) a pension card issued by the Department of Human Services that entitles the person in whose name the card is issued, to financial benefits.

substitute

(5) a concession card, as defined from time to time in the Social Security Act 1991, or an equivalent term which expresses the same concept in relation to concession holders.

Schedule 2Amendment of the Anti-Money Laundering and Counter-Terrorism Financing Rules Instrument 2007 (No. 1).

1.Chapter 69

Item 1 After Chapter 68 insert

CHAPTER 69Casino licence holders – exemption from applying for registration on the Remittance Sector Register

69.1 These Anti-Money Laundering and Counter-Terrorism Financing Rules (Rules) are made under section 229 for subsection 247(4) of the Anti-Money Laundering and Counter-Terrorism Financing Act 2006 (AML/CTF Act).

69.2 Subsections 74(1), 74(1A) and 74(1B) of the AML/CTF Act do not apply to the provision of a designated service set out in item 31, item 32 or item 32A of table 1 in subsection 6(2) of the AML/CTF Act that are provided in the circumstances specified in paragraph 69.3.

69.3 The specified circumstances are:

(1) the designated service specified in paragraph 69.2 is provided:

(a) only in conjunction with a designated service set out in table 3 in subsection 6(4) of the AML/CTF Act; and

(b) the reporting entity is the holder of a casino licence; and

(c) the designated services specified in paragraph 69.2 and subparagraph 69.3(1)(a) are provided in a casino to which the casino licence relates.

69.4 In this Chapter:

(1) ‘holder of a casino licence’ means a person who holds a casino licence or equivalent issued by one or more Australian State or Territory, which allows the casino licence holder to operate a casino under the legislation of the relevant Australian State or Territory.

Note:The exemption from applying for registration does not exempt the reporting entity from any other obligation imposed by the AML/CTF Act, including the reporting obligations specified in Part 3 of that Act.

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 or call 1300 363 992