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Anti‑Money Laundering and Counter‑Terrorism Financing Rules Instrument 2007 (No. 1)

made under section 229 of the

Anti‑Money Laundering and Counter‑Terrorism Financing Act 2006

Compilation No. 57

Compilation date: 1 May 2019

Includes amendments up to: Anti‑Money Laundering and Counter‑Terrorism Financing Rules Amendment Instrument 2019 (No. 2) (F2019L00518)

Prepared by the Australian Transaction Reports and Analysis Centre (AUSTRAC)

Contents

Name of Instrument [see Note 1] 1

Rules 1

CHAPTER 12

Part 1.1Introduction 2

Part 1.2Key terms and concepts 2

CHAPTER 217

Part 2.1Definition of ‘designated business group’ 17

CHAPTER 327

Part 3.1Correspondent banking due diligence 27

Part 3.2Anti-Money Laundering and Counter-Terrorism Financing Rules in Respect of Paragraph (e) of the Definition of ‘Correspondent Banking Relationship’ in Section 5 of the Anti-Money Laundering and Counter-Terrorism Financing Act 2006 29

CHAPTER 430

Part 4.1Introduction 30

Part 4.2Applicable customer identification procedure with respect to individuals 32

Part 4.3Applicable customer identification procedure with respect to companies 35

Part 4.4Applicable customer identification procedure with respect to trustees 40

Part 4.5Applicable customer identification procedure with respect to partners 47

Part 4.6Applicable customer identification procedure with respect to associations 49

Part 4.7Applicable customer identification procedure with respect to registered co‑operatives 52

Part 4.8Applicable customer identification procedure with respect to government bodies 54

Part 4.9Verification from documentation 55

Part 4.10Verification from reliable and independent electronic data 57

Part 4.11Agents of customers 58

Part 4.12Collection and Verification of Beneficial Owner information 60

Part 4.13Collection and Verification of Politically Exposed Person information 63

Part 4.14Exemptions relating to the identification of beneficial owners and politically exposed persons 65

Part 4.15Procedure to follow where a customer cannot provide satisfactory evidence of identity 67

CHAPTER 5 69

Part 5.1Special anti‑money laundering and counter‑terrorism financing (AML/CTF) program 69

Part 5.2Applicable customer identification procedures in relation to special AML/CTF program 69

CHAPTER 6 70

Part 6.1Verification of identity of customers 70

Part 6.2Verification of the identity of customers for the purposes of section 35 70

Part 6.3Verification of the identity of pre‑commencement customers 70

Part 6.4Verification of the identity of low‑risk service customers 71

CHAPTER 7 72

Part 7.1Applicable customer identification procedures deemed to have been carried out by a reporting entity 72

Part 7.2Licensed financial advisers 72

Part 7.3Designated business groups 73

CHAPTER 8 74

Part 8.1Part A of a standard anti‑money laundering and counter‑terrorism financing (AML/CTF) program 74

Part 8.2AML/CTF risk awareness training program 76

Part 8.3Employee due diligence program 76

Part 8.4Oversight by boards and senior management 77

Part 8.5AML/CTF Compliance Officer 77

Part 8.6Independent review 77

Part 8.7Incorporation of feedback and guidance on ML/TF risks from AUSTRAC 78

Part 8.8Permanent establishments in a foreign country 78

Part 8.9Reporting obligations 79

CHAPTER 9 80

Part 9.1Part A of a joint anti‑money laundering and counter‑terrorism financing (AML/CTF) program 80

Part 9.2AML/CTF risk awareness training program 82

Part 9.3Employee due diligence program 82

Part 9.4Oversight by boards and senior management 83

Part 9.5AML/CTF Compliance Officer 83

Part 9.6Independent review 83

Part 9.7Incorporation of feedback and guidance on ML/TF risks from AUSTRAC 84

Part 9.8Permanent establishments in a foreign country 84

Part 9.9Reporting obligations 85

CHAPTER 10 86

Part 10.1Casinos 86

Part 10.2On‑course bookmakers and totalisator agency boards 87

Part 10.3Gaming machines 89

Part 10.4Accounts for online gambling services 89

CHAPTER 11 Compliance Report – Reporting and Lodgment periods 91

CHAPTER 12 Electronic funds transfer instructions 92

CHAPTER 13 Approved third‑party bill payment system 93

CHAPTER 14 Thresholds for certain designated services 94

CHAPTER 15 Ongoing customer due diligence 97

CHAPTER 16 Reportable details for international funds transfer instructions (items 1 and 2 in section 46) 101

CHAPTER 17 Reportable details for international funds transfer instructions under a designated remittance arrangement (items 3 and 4 in section 46) 106

CHAPTER 18 Reportable details for suspicious matters 117

CHAPTER 19 Reportable details for threshold transactions 127

CHAPTER 20 Record‑keeping obligations under section 114 138

CHAPTER 21 Issuing or selling a security or derivative 139

CHAPTER 22 Exemption of certain types of transactions relating to the over-the-counter derivatives market 143

CHAPTER 23 Anti-Money Laundering and Counter-Terrorism Financing Rules – persons specified as ‘non-financiers’ 148

CHAPTER 24 Anti-Money Laundering and Counter-Terrorism Financing Rules for movements of physical currency into or out of Australia 149

CHAPTER 25 Anti-Money Laundering and Counter-Terrorism Financing Rules for receipts of physical currency from outside Australia 153

CHAPTER 26 Anti-Money Laundering and Counter-Terrorism Financing Rules for movements of bearer negotiable instruments into or out of Australia 156

CHAPTER 27 Anti-Money Laundering and Counter-Terrorism Financing Rules for registrable details relating to the Register of Providers of Designated Remittance Services and the Remittance Sector Register 160

CHAPTER 28 Applicable customer identification procedures in certain circumstances – assignment, conveyance, sale or transfer of businesses 174

CHAPTER 29 Record-keeping obligations under section 107 177

CHAPTER 30 Disclosure certificates 179

CHAPTER 31 Exemption of certain types of transactions relating to currency exchange transactions 184

CHAPTER 32 Exemption of certain types of transactions relating to safe deposit boxes or similar facilities 186

CHAPTER 33 Applicable customer identification procedure for purchases and sales of bullion valued at less than $5,000 188

CHAPTER 34 Affixing of notices about cross-border movement reporting obligations 189

CHAPTER 35 Exemption from applicable customer identification procedures for correspondent banking relationships 191

CHAPTER 36 Exemption of certain designated services within a corporate structure 192

CHAPTER 37 Exemption from threshold transaction reporting for certain designated services 194

CHAPTER 38 Exemption from applicable customer identification procedures for the sale of shares for charitable purposes 195

CHAPTER 39 Exemption from applicable customer identification procedures - premium funding loans for a general insurance policy 197

CHAPTER 40 Definition of ‘exempt legal practitioner service’ 199

CHAPTER 41 Exemption from applicable customer identification procedures – cashing out of low value superannuation funds and for the Departing Australia Superannuation Payment 200

CHAPTER 42 Commodity warehousing of grain 202

CHAPTER 43 Friendly Society closed funds 204

CHAPTER 45 Debt Collection 205

CHAPTER 46 Special circumstances for the applicable customer identification procedure 207

CHAPTER 47 Risk-only life policy interests in a superannuation fund 209

CHAPTER 48 Exemption of salary packaging administration services from the AML/CTF Act 211

CHAPTER 49 International Uniform Give-Up Agreements 212

CHAPTER 50 Exemption from applicable customer identification procedure in certain circumstances 214

CHAPTER 51 AML/CTF Rules relating to certain definitions under the AML/CTF Act - Ordering and Beneficiary Institutions, Financial Institutions and Non-Financiers 218

CHAPTER 52 Persons who are licensed to operate no more than 15 gaming machines 221

CHAPTER 54 Reporting obligations of registered remittance affiliates 223

CHAPTER 55 Remittance Sector Register 224

CHAPTER 56 Information to be included in an application for registration as a remittance network provider, a remittance affiliate of the registered remittance network provider or an independent remittance dealer 225

CHAPTER 57 Matters to be considered by the AUSTRAC CEO in considering applications for registration 249

CHAPTER 58 Matters to be considered by the AUSTRAC CEO when deciding to cancel a registration 251

CHAPTER 59 Matters to be considered by the AUSTRAC CEO when deciding to suspend a registration 256

CHAPTER 60 Change in registration details regarding the person 262

CHAPTER 61 Reporting obligations of remittance affiliates 272

CHAPTER 62 Reporting Entities Roll 273

CHAPTER 63 Information to be provided or in relation to an application for enrolment as a reporting entity 275

CHAPTER 64 Changes in enrolment details in respect to a reporting entity 287

CHAPTER 65 Removal of entries from the Reporting Entities Roll 289

CHAPTER 66 Applicable customer identification procedures in certain circumstances – compulsory partial or total transfer of business made under the Financial Sector (Business Transfer and Group Restructure) Act 1999 293

CHAPTER 67 Warrants 296

CHAPTER 68 Anti-Money Laundering and Counter-Terrorism Financing Rules relating to records of identification procedures 298

CHAPTER 69 Casino licence holders – exemption from applying for registration on the Remittance Sector Register 299

CHAPTER 70 Renewal of registration 300

CHAPTER 71 Credit card reform - specifying persons under Items 1, 2 and 3 of Table 1 in subsection 6(2) of the AML/CTF Act 311

CHAPTER 72 Account-based money transfer systems 313

CHAPTER 73 Exemption for Registered Plan Management Providers 327

CHAPTER 74 Exemption for licensed trustee companies 328

CHAPTER 75 Law Enforcement Operations 330

CHAPTER 76 Digital Currency Exchange Register 333

Notes to the Anti-Money Laundering and Counter-Terrorism Financing Rules Instrument 2007 (No. 1) 340

Name of Instrument [see Note 1]

This Instrument is the Anti‑Money Laundering and Counter‑Terrorism Financing Rules Instrument 2007 (No. 1).

Rules

The Anti‑Money Laundering and Counter‑Terrorism Financing Rules are set out in this Instrument.

CHAPTER 1

Part 1.1 Introduction

1.1.1 These Anti-Money Laundering and Counter-Terrorism Financing Rules (AML/CTF Rules) are made pursuant to section 229 of the Anti-Money Laundering and Counter-Terrorism Financing Act 2006 (AML/CTF Act). Section 229 of the AML/CTF Act empowers the AUSTRAC CEO to make rules prescribing matters required or permitted by the AML/CTF Act to be prescribed by AML/CTF Rules. This Chapter commences on 1 June 2014.

Part 1.2 Key terms and concepts

1.2.1 In these Rules:

accredited translator means:

(1) a person currently accredited by the National Accreditation Authority for Translators and Interpreters Ltd. (NAATI) at the level of Professional Translator, or above, to translate from a language other than English into English; or

(2) a person who currently holds an accreditation that is consistent with the standard specified in (1).

the AML/CTF Act means the Anti‑Money Laundering and Counter‑Terrorism Financing Act 2006.

AML/CTF program means an anti‑money laundering and counter‑terrorism financing program as defined in section 83 of the AML/CTF Act.

Australian Government Entity means:

(1) the Commonwealth, a State or a Territory; or

(2) an agency or authority of:

(a) the Commonwealth; or

(b) a State; or

(c) a local governing body established by or under a law of the Commonwealth, a State or Territory, other than a body whose sole or principal function is to provide a particular service, such as the supply of electricity or water;

beneficial owner:

(1) of a person who is a reporting entity, means an individual who owns or controls (directly or indirectly) the reporting entity;

(2) of a person who is a customer of a reporting entity, means an individual who ultimately owns or controls (directly or indirectly) the customer;

(3) In this definition: control includes control as a result of, or by means of, trusts, agreements, arrangements, understandings and practices, whether or not having legal or equitable force and whether or not based on legal or equitable rights, and includes exercising control through the capacity to determine decisions about financial and operating policies; and

(4) In this definition: owns means ownership (either directly or indirectly) of 25% or more of a person.

Note: The definition ‘control test’ does not apply to this definition.

certified copy means a document that has been certified as a true copy of an original document by one of the following persons:

(1) a person who, under a law in force in a State or Territory, is currently licensed or registered to practise in an occupation listed in Part 1 of Schedule 2 of the Statutory Declarations Regulations 2018;

(2) a person who is enrolled on the roll of the Supreme Court of a State or Territory, or the High Court of Australia, as a legal practitioner (however described);

(3) a person listed in Part 2 of Schedule 2 of the Statutory Declarations Regulations 2018. For the purposes of these Rules, where Part 2 uses the term ‘5 or more years of continuous service’, this should be read as ‘2 or more years of continuous service’;

(4) an officer with, or authorised representative of, a holder of an Australian financial services licence, having 2 or more years of continuous service with one or more licensees;

(5) an officer with, or a credit representative of, a holder of an Australian credit licence, having 2 or more years of continuous service with one or more licensees;

(6) a person in a foreign country who is authorised by law in that jurisdiction to administer oaths or affirmations or to authenticate documents.

Note: The Statutory Declarations Regulations 2018 are accessible through the Commonwealth of Australia law website,

certified extract means an extract that has been certified as a true copy of some of the information contained in a complete original document, by one of the persons described in paragraphs (1)-(6) of the definition of ‘certified copy’ in paragraph 1.2.1 of these Rules.

correspondent banking risk means the money laundering or terrorism financing risk a financial institution may reasonably face in respect of a correspondent banking relationship.

domestic company means a company that is registered under the Corporations Act 2001 (other than a registered foreign company).

domestic listed public company means a domestic company that is a listed public company.

domestic stock exchange means a financial market prescribed by regulations made for the purposes of the definition of ‘prescribed financial market’ in the Corporations Act 2001.

domestic unlisted public company means a domestic company that is not a listed public company.

foreign company means a body corporate of the kind described in paragraph (a) of the definition of ‘foreign company’ in the Corporations Act 2001.

foreign listed public company means a foreign company that is a listed public company.

KYC information means ‘know your customer information’ and may include information in relation to matters such as:

(1) In relation to a customer who is an individual:

(a) the customer’s name;

(b) the customer’s residential address;

(c) the customer’s date of birth;

(d) any other name that the customer is known by;

(e) the customer’s country(ies) of citizenship;

(f) the customer’s country(ies) of residence;

(g) the customer’s occupation or business activities;

(h) the nature of the customer’s business with the reporting entity – including:

(i) the purpose of specific transactions; or

(ii) the expected nature and level of transaction behaviour;

(i) the income or assets available to the customer;

(j) the customer’s source of funds including the origin of funds;

(k) the customer’s financial position;

(l) the beneficial ownership of the funds used by the customer with respect to the designated services; and

(m) the beneficiaries of the transactions being facilitated by the reporting entity on behalf of the customer including the destination of funds.

(2) In relation to a customer who is a company:

(a) the full name of the company as registered by ASIC;

(b) the full address of the company’s registered office;

(c) the full address of the company’s principal place of business (if any);

(d) the ACN issued to the company;

(e) whether the company is registered by ASIC as a proprietary company or a public company;

(f) the name of each director of the company;

(g) the full business name (if any) of the company as registered under any State or Territory business names legislation;

(h) the date upon which the company was registered by ASIC;

(i) the name of any company secretary;

(j) the nature of the business activities conducted by the company;

(k) (without limiting the possible application of other items in this definition to a registered foreign company) if the company is a registered foreign company:

(i) the full address of the company’s registered office in Australia;

(ii) the full address of the company’s principal place of business in Australia (if any) or the full name and address of the company’s local agent in Australia;

(iii) the ARBN issued to the company;

(iv) the country in which the company was formed, incorporated or registered;

(v) whether the company is registered by the relevant foreign registration body and if so whether it is registered as a proprietary or private company;

(vi) the name of the relevant foreign registration body;

(vii) any identification number issued to the company by the relevant foreign registration body upon the company’s formation, incorporation or registration;

(viii) the date upon which the company was formed, incorporated or registered in its country of formation, incorporation or registration;

(ix) the full address of the company in its country of formation, incorporation or registration as registered by the relevant foreign registration body;

(l) (without limiting the possible application of other items in this definition to an unregistered foreign company) if the company is an unregistered foreign company:

(i) the full name of the company;

(ii) the country in which the company was formed, incorporated or registered;

(iii) whether the company is registered by the relevant foreign registration body and if so:

(A) any identification number issued to the company by the relevant foreign registration body upon the company’s formation, incorporation or registration;

(B) the full address of the company in its country of formation, incorporation or registration as registered by the relevant foreign registration body; and

(C) whether it is registered as a proprietary or private company;

(iv) the full address of the company’s principal place of business in that country;

(v) the name of the relevant foreign registration body;

(vi) the date upon which the company was formed, incorporated or registered in its country of formation, incorporation or registration;

(vii) the full address of the company’s principal place of business in that country; and

(m) the name and address of any beneficial owner of the company.

(3) In relation to a customer who is a trustee of a trust:

(a) the full name of the trust;

(b) the full business name (if any) of the trustee in respect of the trust;

(c) the type of the trust;

(d) the country in which the trust was established;

(e) if any of the trustees is an individual – in respect of any of those individuals, the information required to be collected from an individual under the reporting entity’s customer identification program in respect of individuals;

(f) if any of the trustees is a company – in respect of any those companies, the information required to be collected from a company under the reporting entity’s customer identification program in respect of companies;

(g) the full name and address of any trustee in respect of the trust;

(h) the full name of any beneficiary in respect of the trust;

(i) if the terms of the trust identify the beneficiaries by reference to membership of a class – details of the class;

(j) the State or Territory in which the trust was established;

(k) the date upon which the trust was established;

(l) a certified copy or certified extract of the trust deed; and

(m) the full name of the trust manager (if any) or settlor (if any) in respect of the trust.

(4) In relation to a customer who is a partner of a partnership:

(a) the full name of the partnership;

(b) the full business name (if any) of the partnership as registered under any State or Territory business names legislation;

(c) the country in which the partnership was established;

(d) in respect of any partner ‑ the information required to be collected from an individual under the reporting entity’s customer identification program in respect of individuals;

(e) the full name and residential address of any partner;

(f) the respective share of each partner in the partnership;

(g) the business of the partnership;

(h) the State or Territory in which the partnership was established;

(i) the date upon which the partnership was established; and

(j) a certified copy or certified extract of the partnership agreement.

(5) In relation to a customer who is an incorporated association:

(a) the full name of the association;

(b) the full address of the association’s principal place of administration or registered office (if any) or the residential address of the association’s public officer or (if there is no such person) the association’s president, secretary or treasurer;

(c) any unique identifying number issued to the association upon its incorporation by the relevant registration body;

(d) the full name of the chairman, secretary and treasurer or equivalent officer in each case of the association;

(e) the State, Territory or country in which the association was incorporated;

(f) the date upon which the association was incorporated;

(g) the objects of the association;

(h) a certified copy or certified extract of the rules of the association;

(i) in respect of any member – the information required to be collected from an individual under the reporting entity’s customer identification program in respect of individuals; and

(j) the full business name, if any, of the association.

(6) In relation to a customer who is an unincorporated association:

(a) the full name of the association;

(b) the full address of the association’s principal place of administration (if any);

(c) the full name of the chairman, secretary and treasurer or equivalent officer in each case of the association;

(d) in respect of any member – the information required to be collected from an individual under the reporting entity’s customer identification program in respect of individuals;

(e) the objects of the association;

(f) a certified copy or certified extract of the rules of the association; and

(g) the full business name, if any, of the association.

(7) In relation to a customer who is a registered co‑operative:

(a) the full name of the co‑operative;

(b) the full address of the co‑operative’s registered office or principal place of operations (if any) or the residential address of the co‑operative’s secretary or (if there is no such person) the co‑operative’s president or treasurer;

(c) any unique identifying number issued to the co‑operative upon its registration by the relevant registration body;

(d) the full name of the chairman, secretary and treasurer or equivalent officer in each case of the co‑operative;

(e) in respect of any member – the information required to be collected from an individual under the reporting entity’s customer identification program in respect of individuals;

(f) the full business name, if any, of the co‑operative;

(g) the State, Territory or country in which the co‑operative is registered;

(h) the date upon which the co‑operative was registered;

(i) the objects of the co‑operative; and

(j) a certified copy or certified extract of the rules of the co‑operative.

(8) In relation to a customer who is a government body:

(a) the full name of the government body;

(b) the full address of the government body’s principal place of operations;

(c) whether the government body is an entity or emanation, or established under legislation, of a State, Territory, the Commonwealth or a foreign country and the name of that State, Territory or country;

(d) information about the ownership or control of a government body that is an entity or emanation or established under legislation of a foreign country; and

(e) the name of any legislation under which the government body was established.

listed public company means:

(1) in the case of a domestic company – a public company that is included in an official list of a domestic stock exchange;

(2) in the case of a registered foreign company –

(a) a public company that is included in an official list of a domestic stock exchange; or

(b) a public company whose shares, in whole or in part, are listed for quotation in the official list of any stock or equivalent exchange;

(3) in the case of an unregistered foreign company – a public company whose shares, in whole or in part, are listed for quotation in the official list of any stock or equivalent exchange.

ML/TF risk means the risk that a reporting entity may reasonably face that the provision by the reporting entity of designated services might (whether inadvertently or otherwise) involve or facilitate money laundering or the financing of terrorism.

Part A means Part A of a reporting entity’s AML/CTF program.

Part B means Part B of a reporting entity’s AML/CTF program.

on‑course bookmaker means a person who carries on a business of a bookmaker or a turf commission agent at a racecourse.

online gambling service means a designated service of a kind described in table 3 of section 6 of the AML/CTF Act that is provided to a customer using any of the means referred to in paragraph 5(1)(b) of the Interactive Gambling Act 2001 and includes an excluded wagering service as defined in section 8A of the Interactive Gambling Act 2001 but does not include a “telephone betting service” as defined in section 4 of the Interactive Gambling Act 2001.

politically exposed person means an individual:

(1) who holds a prominent public position or function in a government body or an international organisation, including:

(a) Head of State or head of a country or government; or

(b) government minister or equivalent senior politician; or

(c) senior government official; or

(d) Judge of the High Court of Australia, the Federal Court of Australia or a Supreme Court of a State or Territory, or a Judge of a court of equivalent seniority in a foreign country or international organisation; or

(e) governor of a central bank or any other position that has comparable influence to the Governor of the Reserve Bank of Australia; or

(f) senior foreign representative, ambassador, or high commissioner; or

(g) high-ranking member of the armed forces; or

(h) board chair, chief executive, or chief financial officer of, or any other position that has comparable influence in, any State enterprise or international organisation; and

(2) who is an immediate family member of a person referred to in paragraph (1), including:

(a) a spouse; or

(b) a de facto partner; or

(c) a child and a child's spouse or de facto partner; or

(d) a parent; and

(3) who is a close associate of a person referred to in paragraph (1), which means any individual who is known (having regard to information that is public or readily available) to have:

(a) joint beneficial ownership of a legal entity or legal arrangement with a person referred to in paragraph (1); or

(b) sole beneficial ownership of a legal entity or legal arrangement that is known to exist for the benefit of a person described in paragraph (1).

(4) In these Rules:

(a) domestic politically exposed person means a politically exposed person of an Australian government body;

(b) foreign politically exposed person means a politically exposed person of a government body of a foreign country;

(c) international organisation politically exposed person means a politically exposed person of an international organisation.

(5) In this definition international organisation means an organisation:

(a) established by formal political agreement by two or more countries and that agreement has the status of an international treaty; and

(b) recognised in the law of the countries which are members of the organisation.

Note: The term de facto partner is defined in the Acts Interpretation Act 1901 and the terms ‘foreign country’ and ‘government body’ are defined in the AML/CTF Act.

primary non‑photographic identification document includes:

(1) a birth certificate or birth extract issued by a State or Territory;

(2) a citizenship certificate issued by the Commonwealth;

(3) a citizenship certificate issued by a foreign government that, if it is written in a language that is not understood by the person carrying out the verification, is accompanied by an English translation prepared by an accredited translator;

(4) a birth certificate issued by a foreign government, the United Nations or an agency of the United Nations that, if it is written in a language that is not understood by the person carrying out the verification, is accompanied by an English translation prepared by an accredited translator;

(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.

primary photographic identification document includes:

(1) a licence or permit issued under a law of a State or Territory or equivalent authority of a foreign country for the purpose of driving a vehicle that contains a photograph of the person in whose name the document is issued;

(2) a passport issued by the Commonwealth;

(3) a passport or a similar document issued for the purpose of international travel, that:

(a) contains a photograph and either:

(i) the signature of the person in whose name the document is issued; or

(ii) any unique identifier of the person in whose name the document is issued;

(b) is issued by a foreign government, the United Nations or an agency of the United Nations; and

(c) if it is written in a language that is not understood by the person carrying out the verification ‑ is accompanied by an English translation prepared by an accredited translator;

(4) a card issued under a law of a State or Territory for the purpose of proving the person’s age which contains a photograph of the person in whose name the document is issued;

(5) a national identity card issued for the purpose of identification, that:

(a) contains a photograph and either:

(i) the signature of the person in whose name the document is issued; or

(ii) any unique identifier of the person in whose name the document is issued;

(b) is issued by a foreign government, the United Nations or an agency of the United Nations; and

(c) if it is written in a language that is not understood by the person carrying out the verification ‑ is accompanied by an English translation prepared by an accredited translator.

public company means a company other than a proprietary company.

racecourse means a place where a race meeting is held by a racing club, and includes adjacent land or premises to which persons attending the meeting have access in connection with the meeting.

reasonable measures means appropriate measures which are commensurate with the money laundering or terrorist financing risks.

registered co‑operative means a body registered under legislation as a co‑operative.

registered foreign company means a foreign company that is registered under Division 2 of Part 5B.2 of the Corporations Act 2001.

relevant foreign registration body means, in respect of a registered foreign company or an unregistered foreign company, any government body that was responsible for the formation, incorporation or registration of that company in its country of formation, incorporation or registration.

reliable and independent documentation includes but is not limited to:

(1) an original primary photographic identification document;

(2) an original primary non‑photographic identification document; and

(3) an original secondary identification document

Note: This is not an exhaustive definition. A reporting entity may rely upon other documents not listed in paragraphs (1) to (3) above as reliable and independent documents, where that is appropriate having regard to ML/TF risk.

secondary identification document includes:

(1) a notice that:

(a) was issued to an individual by the Commonwealth, a State or Territory within the preceding twelve months;

(b) contains the name of the individual and his or her residential address; and

(c) records the provision of financial benefits to the individual under a law of the Commonwealth, State or Territory (as the case may be);

(2) a notice that:

(a) was issued to an individual by the Australian Taxation Office within the preceding 12 months;

(b) contains the name of the individual and his or her residential address; and

(c) records a debt payable to or by the individual by or to (respectively) the Commonwealth under a Commonwealth law relating to taxation;

(3) a notice that:

(a) was issued to an individual by a local government body or utilities provider within the preceding three months;

(b) contains the name of the individual and his or her residential address; and

(c) records the provision of services by that local government body or utilities provider to that address or to that person.

(4) In relation to a person under the age of 18, a notice that:

(a) was issued to a person by a school principal within the preceding three months;

(b) contains the name of the person and his or her residential address; and

(c) records the period of time that the person attended at the school.

senior managing official means an individual who makes, or participates in making, decisions that affect the whole, or a substantial part, of the business of a customer of a reporting entity or who has the capacity to affect significantly the financial standing of a customer of a reporting entity.

totalisator agency board means a board or authority established, or a company holding a licence, under a law of a State or Territory for purposes that include the purpose of operating a betting service.

unregistered foreign company means a foreign company that is not a registered foreign company.

1.2.2 In these Rules, the terms ‘ABN’, ‘ACN’, ‘ARBN’, ‘Australian financial services licence’, ‘ASIC’, ‘managed investment scheme’, ‘proprietary company’, ‘registered office’ and ‘wholesale client’ have the same respective meanings as in the Corporations Act 2001.

1.2.3 In these Rules, the terms ‘Australian credit licence’ and ‘credit representative’ have the same respective meanings as in the National Consumer Credit Protection Act 2009.

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 Australian 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.

CHAPTER 2

Part 2.1 Definition of ‘designated business group’

2.1.1 These Anti-Money Laundering and Counter-Terrorism Financing Rules (Rules) are made pursuant to section 229 of the Anti-Money Laundering and Counter-Terrorism Financing Act 2006 (AML/CTF Act) for the purposes of the definition of ‘designated business group’ in section 5 of the AML/CTF Act.

2.1.2 For the purposes of the definition of ‘designated business group’ in section 5 of the AML/CTF Act:

(1) an election will be made in accordance with the AML/CTF Rules if it is made on the approved election form and provided to AUSTRAC by the Nominated Contact Officer;

(2) a ‘designated business group’ is established when the approved form is provided to the AUSTRAC CEO by the Nominated Contact Officer or on such later date as is specified on that form; and

(3) the members of a designated business group must, by their Nominated Contact Officer, notify the AUSTRAC CEO, in writing, in the approved form, of any of the following:

(a) a withdrawal of a member from the designated business group; or

(b) an election of a new member; or

(c) the termination of the designated business group; or

(d) any other change in the details previously notified to the AUSTRAC CEO in respect of the Nominated Contact Officer or the designated business group;

no later than 14 business days from the date on which the withdrawal, election of the new member, termination or change takes effect.

(4) each member of the designated business group must be:

(a) related to each other member of the group within the meaning of section 50 of the Corporations Act 2001; and either

(i) a reporting entity; or

(ii) a company in a foreign country which if it were resident in Australia would be a reporting entity; or

(b) providing a designated service pursuant to a joint venture agreement, to which each member of the group is a party; or

(c) able to satisfy the following conditions:

be

(i) an accounting practice; or

(ii) a person, other than an individual, which the accounting practice in (i) controls; or

(iii) an accounting practice which is providing a designated service pursuant to a joint venture agreement, to which each member of the group is a party; or

(iv) a person that provides or assists in the provision of a designated service to the customers of the accounting practice;

and either:

(v) a reporting entity; or

(vi) an entity in a foreign country which, if it were resident in Australia would be a reporting entity; or

(d) able to satisfy the following conditions:

be

(i) a law practice; or

(ii) a person, other than an individual, which the law practice in (i) controls; or

(iii) a law practice which is providing a designated service pursuant to a joint venture agreement, to which each member of the group is a party; or

(iv) a person that provides or assists in the provision of a designated service to the customers of the law practice;

and either:

(v) a reporting entity; or

(vi) an entity in a foreign country which, if it were resident in Australia would be a reporting entity; or

(e) Subject to the requirements in paragraph 2.1.2A, be a reporting entity that provides a registrable designated remittance service, either:

(i) as a money transfer service provider; or

(ii) as a representative of a money transfer service provider pursuant to a representation agreement with a money transfer service provider; or

(iii) as a sub-representative of a money transfer service provider pursuant to a sub-representation agreement with the representative of the money transfer service provider.

2.1.2A The following conditions apply to a reporting entity that elects to form or vary a designated business group with other reporting entities pursuant to subparagraph 2.1.2(4)(e):

(1) a person who meets the criteria specified at subparagraph 2.1.2(4)(e)(i) may form or vary a designated business group with one of the following:

(a) a person or persons with whom they have a representation agreement; or

(b) (i) a person with whom they have a

representation agreement; and

(ii) a person or persons with whom the person described at subparagraph 2.1.2A(1)(b)(i) has a sub-representation agreement.

(2) a person who meets the criteria specified at subparagraph 2.1.2(4)(e)(ii) may form or vary a designated business group with one of the following:

(a) the person with whom they have a representation agreement; or

(b) (i) the person with whom they have a

representation agreement; and

(ii) a person or persons who have a representation agreement with the person described at subparagraph 2.1.2A(2)(b)(i); or

(c) (i) a person or persons who meet the conditions

specified at subparagraph 2.1.2(4)(e)(iii); and

(ii) with whom they have a sub-representation agreement; or

(d) (i) the person with whom they have a representation

agreement; and

(ii) (A) a person or persons who meet the

conditions specified at subparagraph 2.1.2(4)(e)(iii); and
(B) with whom they have a sub-representation agreement.

(3) a person who meets the conditions specified at subparagraph 2.1.2(4)(e)(iii) may form or vary a designated business group with one of the following:

(a) the person with whom they have a sub-representation agreement; or

(b) (i) the person with whom they have a

sub-representation agreement; and

(ii) a person or persons who have a sub-representation agreement with the same person described at subparagraph 2.1.2A(3)(a); or

(c) (i) the person with whom they have a

sub-representation agreement; and

(ii) the person with whom the person described at subparagraph 2.1.2A(3)(c)(i) has a representation agreement; or

(d) (i) the person with whom they have a

sub-representation agreement; and

(ii) the person with whom the person described at subparagraph 2.1.2A(3)(d)(i) has a representation agreement; and

(iii) a person or persons who have a sub-representation agreement with the same person described at subparagraph 2.1.2A(3)(d)(i).

2.1.3 In this Chapter:

(1) ‘approved election form’ means Form 1 attached to these Rules;

(2) ‘approved form’ for the purposes of sub-rule 2.1.2(2) means Form 2 attached to these Rules;

(3) ‘approved form’ for the purposes of sub-rule 2.1.2(3) means Form 3 attached to these Rules;

(4) ‘company’ has the same meaning as in the Corporations Act 2001;

(5) ‘Nominated Contact Officer’ means the holder from time to time of one of the following positions:

(a) an ‘officer’ as defined in the Corporations Act 2001, of a member of a designated business group; or

(b) the AML/CTF Compliance Officer of a member of a designated business group,

where that officer or compliance officer has been appointed by the designated business group to hold the position of the Nominated Contact Officer;

(6) ‘accounting practice’ means a business carried on by either of the following:

(a) an accountant (however described) that supplies professional accounting services; or

(b) a partnership or company that uses accountants (however described) to supply professional accounting services;

(7) ‘law practice’ means a business carried on by either of the following:

(a) a legal practitioner (however described) that supplies professional legal services; or

(b) a partnership or company that uses legal practitioners (however described) to supply professional legal services;

(8) ‘money transfer service’ means a service, provided under a single brand, trademark or business name through which registrable designated remittance services are carried out;

(9) ‘money transfer service provider’ means a person who under a representation agreement authorises a representative to offer the money transfer service on behalf of the money transfer service provider and to engage sub-representatives for the purposes of providing the money transfer service in Australia;

(10) ‘representation agreement’ means the written agreement between a money transfer service provider and a representative of the money transfer service provider that states the terms on which the representative offers the money transfer service within Australia;

(11) ‘representative of a money transfer service provider’ or ‘representative’ means a person who offers a money transfer service in accordance with a representation agreement with the money transfer service provider;

(12) ‘sub-representation agreement’ means the written agreement between a representative of a money transfer service provider and a sub-representative of a money transfer service provider that states the terms on which the sub-representative provides the money transfer service within Australia;

(13) ‘sub-representative of a money transfer service provider’ or ‘sub-representative’ means a person who is engaged by a representative of a money transfer service provider to provide a money transfer service in accordance with a sub-representation agreement.

Form 1

FORM FOR SUB-PARAGRAPH 2.1.2(1) OF THE RULES: ELECTION TO BE A MEMBER OF A DESIGNATED BUSINESS GROUP

For the purposes of the Anti-Money Laundering and Counter-Terrorism Financing Rules made pursuant to section 229 of the Anti-Money Laundering and Counter-Terrorism Financing Act 2006 (AML/CTF Act) and of the definition of ‘designated business group’ in section 5 of the AML/CTF Act:

I, [name and role/title of Y], hereby elect on behalf of Y, to be a member of [name of Designated Business Group]. I hereby confirm that:

(a) Y Pty Ltd, is a reporting entity related to each member of [name of Designated Business Group] within the meaning of section 50 of the Corporations Act 2001; or

(b) Y Pty Ltd, is providing a designated service pursuant to a joint venture agreement to which each member of [name of Designated Business Group] is a party; or

(c) Y Pty Ltd, is a foreign company which, if it were resident in Australia would be a reporting entity, and is, within the meaning of section 50 of the Corporations Act 2001, related to [name of related company] which is a member of [name of Designated Business Group] and which is a reporting entity; or

(d) Y is a reporting entity or is an entity in a foreign country, which if it were resident in Australia would be a reporting entity, and is:

(i) an accounting practice as defined in Rule 2.1.3(6); or

(ii) a person, other than an individual, which the accounting practice in (i) controls; or

(iii) an accounting practice which is providing a designated service pursuant to a joint venture agreement, to which each member of the [name of Designated Business Group] group is a party; or

(iv) a person that provides or assists in the provision of a designated service to the customers of the accounting practice; or

(e) Y is a reporting entity or is an entity in a foreign country, which if it were resident in Australia would be a reporting entity, and is:

(i) a law practice as defined in Rule 2.1.3(7); or

(ii) a person, other than an individual, which the law practice in (i) controls; or

(iii) a law practice which is providing a designated service pursuant to a joint venture agreement, to which each member of the [name of Designated Business Group] group is a party; or

(iv) a person that provides or assists in the provision of a designated service to the customers of the law practice; or

(f) Y is a reporting entity, and is a money transfer service provider as defined in Rule 2.1.3(9); or

(g) Y is a reporting entity, and is a representative of a money transfer service provider as defined in Rule 2.1.3(11); or

(h) Y is a reporting entity, and is a sub-representative of a money transfer service provider as defined in Rule 2.1.3(13).

DATE:

Form 2

FORM FOR SUB-PARAGRAPH 2.1.2(2) OF THE RULES: FORMATION OF A DESIGNATED BUSINESS GROUP

I, [name and role/title of X], notify AUSTRAC that [role/title of X] is the Nominated Contact Officer of [name of Designated Business Group]. I currently hold that position. My contact details are:

Address:

Phone number:

Fax number:

Email address:

I [name] as the Nominated Contact Officer of [name of Designated Business Group] hereby notify AUSTRAC of the establishment of [name of Designated Business Group].

The following have elected to be members of [name of Designated Business Group]:

[name of member]

DATE:

Form 3

FORM FOR SUB-PARAGRAPH 2.1.2(3) OF THE RULES: VARIATIONS

I, [Nominated Contact Officer of X], being the Nominated Contact Officer of [name of Designated Business Group] hereby advise the AUSTRAC CEO of the following variations to [name of Designated Business Group]:

(a) [withdrawal detail];

(b) [election detail];

(d) [any other change]

Election forms are attached.

DATE:

CHAPTER 3

Part 3.1 Correspondent banking due diligence

3.1.1 These Anti‑Money Laundering and Counter‑Terrorism Financing Rules (Rules) are made pursuant to section 229 of the Anti‑Money Laundering and Counter‑Terrorism Financing Act 2006 (AML/CTF Act) for the purposes of paragraphs 97(2)(a) and 98(2)(a), subparagraphs 98(3)(a)(ii) and 98(3)(b)(ii) and subsections 98(4) and 99(1) of the AML/CTF Act.

3.1.2 For the purposes of paragraph 97(2)(a) of the AML/CTF Act, a financial institution (the first financial institution) must carry out an assessment of the following matters, where and to the extent warranted by the risk identified in accordance with subsection 97(1):

(1) the nature of the other financial institution’s business, including its product and customer base;

(2) the domicile of the other financial institution;

(3) the domicile of any parent company of the other financial institution;

(4) the existence and quality of any anti‑money laundering and counter‑terrorism financing regulation and supervision in the other financial institution’s country of domicile;

(5) the existence and quality of any anti‑money laundering and counter‑terrorism financing regulation and supervision in the country of domicile of any parent company of the other financial institution – where the parent company has group‑wide controls and where the other financial institution operates within the requirements of those controls;

(6) the adequacy of the other financial institution’s controls and internal compliance practices in relation to anti‑money laundering and counter‑terrorism financing;

(7) the ownership, control and management structures of the other financial institution and any parent company, including whether a politically exposed person has ownership or control of the other financial institution or any parent company;

(8) the other financial institution’s financial position;

(9) the reputation and history of the other financial institution;

(10) the reputation and history of any parent company of the other financial institution;

(11) whether the other financial institution has been the subject of an investigation, or any criminal or civil proceedings relating to money laundering or terrorism financing.

3.1.3 For the purposes of subsection 99(1) of the AML/CTF Act, the senior officer must have regard to the due diligence assessment carried out for the purposes of paragraph 3.1.2 of these Rules.

3.1.4 For the purposes of paragraph 98(2)(a) of the AML/CTF Act, the first financial institution must carry out regular assessments of the following matters, if warranted by the risk identified in accordance with subsection 98(1):

(1) the matters specified in paragraph 3.1.2 of these Rules;

(2) any material changes in respect of the matters specified in paragraph 3.1.2 of these Rules;

(3) the nature of the other financial institution’s ongoing business relationship with the first financial institution, including the types of transactions carried out as part of that relationship;

(4) any material change in the nature of the other financial institution’s ongoing business relationship with the first financial institution, including in respect of the types of transactions carried out as part of that relationship.

3.1.5 In accordance with subsection 98(5) of the AML/CTF Act, the first financial institution is required to determine:

(1) in respect of each correspondent banking relationship that involves a vostro account that it enters into after the commencement of section 98 – the end of the period referred to in subparagraph 98(3)(a)(ii);

(2) in respect of each correspondent banking relationship that involves a vostro account that it has entered into before the commencement of section 98 – the end of the period referred to in subparagraph 98(3)(b)(ii); and

(3) in respect of each of its correspondent banking relationships – the period referred to in subsection 98(4).

3.1.6 In determining the end of a period or a period for the purposes of paragraph 3.1.5 of these Rules, the first financial institution must have regard to the risk identified in accordance with subsection 98(1) of the AML/CTF Act.

Part 3.2 Anti-Money Laundering and Counter-Terrorism Financing Rules in Respect of Paragraph (e) of the Definition of ‘Correspondent Banking Relationship’ in Section 5 of the Anti-Money Laundering and Counter-Terrorism Financing Act 2006

3.2.1 These Anti-Money Laundering and Counter-Terrorism Financing Rules (Rules) are made pursuant to section 229 of the Anti-Money Laundering and Counter-Terrorism Financing Act 2006 (AML/CTF Act) for the purposes of paragraph (e) of the definition of ‘correspondent banking relationship’ in section 5 of the AML/CTF Act.

3.2.2 For the purposes of paragraph (e) of the definition of correspondent banking relationship in section 5 of the AML/CTF Act, all banking services that do not involve a vostro account are specified.

CHAPTER 4

Part 4.1 Introduction

4.1.1 These Rules are made pursuant to section 229 of the AML/CTF Act for the purposes of paragraphs 36(1)(b), 84(2)(c), 84(3)(b), 85(2)(c) and 85(3)(b), and sections 106, 107 and 108 of the AML/CTF Act. Sections 136 and 137 of the AML/CTF Act apply to each paragraph of this Chapter. They specify the requirements with which Part A or Part B of a reporting entity’s standard AML/CTF program or Part A or Part B of a reporting entity’s joint AML/CTF program must comply. The primary purpose of Part A of a standard or joint AML/CTF program is to identify, manage and mitigate money laundering or terrorism financing (ML/TF) risk a reporting entity may reasonably face in relation to the provision by the reporting entity of designated services at or through a permanent establishment in Australia. The sole or primary purpose of Part B is to set out the reporting entity’s applicable customer identification procedures.

Note: Reporting entities that collect information about a customer from a third party will need to consider their obligation under subclause 3.6 of the Australian Privacy Principles, which requires that personal information about an individual must be collected only from the individual unless it is unreasonable or impractical to do so and where it is reasonably necessary for the reporting entity’s functions or activities.

4.1.2 This Chapter does not apply to:

(1) a pre‑commencement customer; or

(2) a customer who receives a designated service covered by item 40, 42 or 44 of table 1 in section 6 of the AML/CTF Act.

Note: Subparagraph 4.1.2(1) relates to pre-commencement customers referred to in sections 28 and 29 of the AML/CTF Act.

4.1.3 For the purposes of these Rules, in identifying its ML/TF risk a reporting entity must consider the risk posed by the following factors:

(1) its customer types; including:

(a) beneficial owners of customers; and

(b) any politically exposed persons;

(2) its customers’ sources of funds and wealth;

(3) the nature and purpose of the business relationship with its customers, including, as appropriate, the collection of information relevant to that consideration;

(4) the control structure of its non-individual customers;

(5) the types of designated services it provides;

(6) the methods by which it delivers designated services; and

(7) the foreign jurisdictions with which it deals.

Different requirements with respect to different kinds of customers

4.1.4 These Rules specify different requirements for AML/CTF programs in relation to different kinds of customers. An AML/CTF program must comply with such requirements to the extent that a reporting entity has a customer of a particular kind. These Rules make provision in respect of the following kinds of customers:

(1) Individuals – Part 4.2 of these Rules;

(2) Companies – Part 4.3 of these Rules;

(3) Customers who act in the capacity of a trustee of a trust – Part 4.4 of these Rules;

(4) Customers who act in the capacity of a member of a partnership – Part 4.5 of these Rules;

(5) Incorporated or unincorporated associations – Part 4.6 of these Rules;

(6) Registered co‑operatives – Part 4.7 of these Rules;

(7) Government bodies – Part 4.8 of these Rules.

Requirements in respect to Beneficial Owners and Politically Exposed Persons

4.1.5 These Rules specify different requirements for AML/CTF programs in relation to beneficial owners and politically exposed persons:

(1) Beneficial Owners – Part 4.12 of these Rules;

(2) Politically Exposed Persons – Part 4.13 of these Rules.

4.1.6 A reporting entity is only required to apply the requirements specified in subparagraphs 4.4.3(5) and 4.4.5(5), and in Part 4.12 and Part 4.13 of these Rules to a person who becomes a customer after the commencement of those provisions on 1 June 2014.

Verification

4.1.7 These Rules also require an AML/CTF program to comply with the requirements of Part 4.9 of these Rules relating to document‑based verification and with the requirements of Part 4.10 of these Rules relating to verification from electronic data.

Agents of customers

4.1.8 An AML/CTF program must comply with the requirements of Part 4.11 of these Rules in relation to any agent who is authorised to act for or on behalf of a customer in relation to a designated service.

Part 4.2 Applicable customer identification procedure with respect to individuals

4.2.1 In so far as a reporting entity has any customer who is an individual, an AML/CTF program must comply with the requirements specified in Part 4.2 of these Rules.

4.2.2 An AML/CTF program must include appropriate risk‑based systems and controls that are designed to enable the reporting entity to be reasonably satisfied, where a customer is an individual, that the customer is the individual that he or she claims to be.

Collection of information

4.2.3 An AML/CTF program must include a procedure for the reporting entity to collect, at a minimum, the following KYC information about an individual (other than an individual who notifies the reporting entity that he or she is a customer of the reporting entity in his or her capacity as a sole trader):

(1) the customer’s full name;

(2) the customer’s date of birth; and

(3) the customer’s residential address.

4.2.4 An AML/CTF program must include a procedure for the reporting entity to collect at a minimum, the following KYC information about a customer who notifies the reporting entity that he or she is a customer of the reporting entity in his or her capacity as a sole trader:

(1) the customer’s full name;

(2) the customer’s date of birth;

(3) the full business name (if any) under which the customer carries on his or her business;

(4) the full address of the customer’s principal place of business (if any) or the customer’s residential address; and

(5) any ABN issued to the customer.

4.2.5 An AML/CTF program must include appropriate risk‑based systems and controls for the reporting entity to determine whether, in addition to the KYC information referred to in paragraph 4.2.3 or 4.2.4 above, any other KYC information will be collected about a customer.

Verification of information

4.2.6 An AML/CTF program must include a procedure for the reporting entity to verify, at a minimum, the following KYC information about a customer:

(1) the customer’s full name; and

(2) either:

(a) the customer’s date of birth; or

(b) the customer’s residential address.

4.2.7 An AML/CTF program must require that the verification of information collected about a customer be based on:

(1) reliable and independent documentation;

(2) reliable and independent electronic data; or

(3) a combination of (1) and (2) above.

4.2.8 An AML/CTF program must include appropriate risk‑based systems and controls for the reporting entity to determine whether, in addition to the KYC information referred to in paragraph 4.2.6 above, any other KYC information collected about the customer should be verified from reliable and independent documentation, reliable and independent electronic data or a combination of the two.

Responding to discrepancies

4.2.9 An AML/CTF program must include appropriate risk‑based systems and controls for the reporting entity to respond to any discrepancy that arises in the course of verifying KYC information collected about a customer so that the reporting entity can determine whether it is reasonably satisfied that the customer is the person that he or she claims to be.

Documentation‑based safe harbour procedure where ML/TF risk is medium or lower

4.2.10 Paragraph 4.2.11 sets out one procedure for documentation‑based verification which a reporting entity may include in an AML/CTF program to comply with its obligations under paragraphs 4.2.3 to 4.2.8, and 4.9.1 to 4.9.3 of these Rules where the relationship with the customer is of medium or lower ML/TF risk. Paragraph 4.2.11 does not preclude a reporting entity from meeting the requirements of paragraphs 4.2.3 to 4.2.8, and 4.9.1 to 4.9.3 of these Rules in another way where the relationship with the customer is of medium or lower ML/TF risk.

4.2.11 An AML/CTF program that requires the reporting entity to do the following will be taken to meet the requirements of paragraphs 4.2.3 to 4.2.8 and 4.9.2 to 4.9.3 of these Rules in respect of a customer, where a reporting entity determines that the relationship with that customer is of medium or lower risk:

(1) collect the KYC information described in paragraph 4.2.3 or 4.2.4 (as the case may be);

(2) verify the customer’s name and either the customer’s residential address or date of birth, or both, from:

(a) an original or certified copy of a primary photographic identification document; or

(b) both:

(i) an original or certified copy of a primary non‑photographic identification document; and

(ii) an original or certified copy of a secondary identification document; and

(3) verify that any document produced about the customer has not expired (other than in the case of a passport issued by the Commonwealth that expired within the preceding two years).

Electronic‑based safe harbour procedure where ML/TF Risk is medium or lower

4.2.12 Paragraph 4.2.13 sets out one procedure for electronic verification which a reporting entity may follow to comply with its obligations under paragraphs 4.2.3 to 4.2.8, and 4.10.1 of these Rules where the relationship with the customer is of medium or lower ML/TF risk. Paragraph 4.2.13 does not preclude a reporting entity from meeting the requirements of paragraphs 4.2.3 to 4.2.8, and 4.10.1 of these Rules in another way where the relationship with the customer is of medium or lower ML/TF risk.

4.2.13 Part B of an AML/CTF program that requires the reporting entity to do the following will be taken to meet the requirements of paragraphs 4.2.3 to 4.2.8 and 4.10.1 of these Rules in respect of a customer, where a reporting entity determines that the relationship with the customer is of medium or lower risk:

(1) collect the KYC information described in paragraph 4.2.3 or 4.2.4 (as the case may be) about a customer;

(2) verify, having regard to the matters set out in subparagraph 4.10.2(1):

(a) the customer’s name; and

(b) either:

(i) the customer’s residential address; or

(ii) the customer’s date of birth; or

(iii) both (i) and (ii); or

(c) that the customer has a transaction history for at least the past 3 years.

4.2.14 For subparagraphs 4.2.13(2)(a) and (b), verification must be undertaken by the reporting entity through the use of reliable and independent electronic data from at least two separate data sources.

Part 4.3 Applicable customer identification procedure with respect to companies

4.3.1 In so far as a reporting entity has any customer who is a domestic or a foreign company, an AML/CTF program must comply with the requirements specified in Part 4.3 of these Rules.

4.3.2 An AML/CTF program must include appropriate risk‑based systems and controls that are designed to enable the reporting entity to be reasonably satisfied, where a customer is a company, that:

(1) the company exists; and

(2) in respect to beneficial owners, the reporting entity has complied with the requirements specified in Part 4.12 of these Rules.

Existence of the company ‑ collection of minimum information

4.3.3 An AML/CTF program must include a procedure for the reporting entity to collect, at a minimum, the following KYC information about a company:

(1) in the case of a domestic company:

(a) the full name of the company as registered by ASIC;

(b) the full address of the company’s registered office;

(c) the full address of the company’s principal place of business, if any;

(d) the ACN issued to the company;

(e) whether the company is registered by ASIC as a proprietary or public company; and

(f) if the company is registered as a proprietary company, the name of each director of the company;

(2) in the case of a registered foreign company:

(a) the full name of the company as registered by ASIC;

(b) the full address of the company’s registered office in Australia;

(c) the full address of the company’s principal place of business in Australia (if any) or the full name and address of the company’s local agent in Australia, if any;

(d) the ARBN issued to the company;

(e) the country in which the company was formed, incorporated or registered;

(f) whether the company is registered by the relevant foreign registration body and if so whether it is registered as a private or public company or some other type of company; and

(g) if the company is registered as a private company by the relevant foreign registration body ‑ the name of each director of the company;

(3) in the case of an unregistered foreign company:

(a) the full name of the company;

(b) the country in which the company was formed, incorporated or registered;

(c) whether the company is registered by the relevant foreign registration body and if so:

(i) any identification number issued to the company by the relevant foreign registration body upon the company’s formation, incorporation or registration;

(ii) the full address of the company in its country of formation, incorporation or registration as registered by the relevant foreign registration body; and

(iii) whether it is registered as a private or public company or some other type of company by the relevant foreign registration body;

(d) if the company is registered as a private company by the relevant foreign registration body ‑ the name of each director of the company; and

(e) if the company is not registered by the relevant foreign registration body, the full address of the principal place of business of the company in its country of formation or incorporation.

4.3.4 An AML/CTF program must include appropriate risk‑based systems and controls for the reporting entity to determine whether, in addition to the KYC information referred to in paragraph 4.3.3, any other KYC information relating to the company’s existence will be collected in respect of a company.

Existence of company – verification of information

4.3.5 An AML/CTF program must include a procedure for the reporting entity to verify, at a minimum, the following information about a company:

(1) in the case of a domestic company:

(a) the full name of the company as registered by ASIC;

(b) whether the company is registered by ASIC as a proprietary or public company; and

(c) the ACN issued to the company;

(2) in the case of a registered foreign company:

(a) the full name of the company as registered by ASIC;

(b) whether the company is registered by the relevant foreign registration body and if so whether it is registered as a private or public company; and

(c) the ARBN issued to the company;

(3) in the case of an unregistered foreign company:

(a) the full name of the company; and

(b) whether the company is registered by the relevant foreign registration body and if so:

(i) any identification number issued to the company by the relevant foreign registration body upon the company’s formation, incorporation or registration; and

(ii) whether the company is registered as a private or public company.

4.3.6 An AML/CTF program must include appropriate risk‑based systems and controls for the reporting entity to determine whether, in addition to the KYC information referred to in paragraph 4.3.5, any other KYC information referred to in paragraph 4.3.3 or other KYC information relating to the company’s existence collected in respect of the company, should be verified.

4.3.7 In determining whether, and what, additional information will be collected and/or verified in respect of a company pursuant to paragraphs 4.3.4 and/or 4.3.6, the reporting entity must have regard to ML/TF risk relevant to the provision of the designated service.

4.3.8 If an AML/CTF program includes the simplified company verification procedure described below with respect to a company that is:

(1) a domestic listed public company;

(2) a majority owned subsidiary of a domestic listed public company; or

(3) licensed and subject to the regulatory oversight of a Commonwealth, State or Territory statutory regulator in relation to its activities as a company;

an AML/CTF program is taken to comply with the requirements of paragraphs 4.3.5, 4.3.6 and 4.3.7 of these Rules in so far as those customers are concerned.

Simplified Company Verification Procedure

The reporting entity must confirm that the company is:

(1) a domestic listed public company;

(2) a majority owned subsidiary of a domestic listed public company; or

(3) licensed and subject to the regulatory oversight of a Commonwealth, State or Territory statutory regulator in relation to its activities as a company;

by obtaining one or a combination of the following:

(4) a search of the relevant domestic stock exchange;

(5) a public document issued by the relevant company;

(6) a search of the relevant ASIC database;

(7) a search of the licence or other records of the relevant regulator.

4.3.9 (1) An AML/CTF program may include appropriate risk‑based systems and controls for the reporting entity to determine whether and in what manner to verify the existence of a foreign company by confirming that the foreign company is a foreign listed public company.

(2) If an AML/CTF program includes systems and controls of that kind, the AML/CTF program must include a requirement that, in determining whether and in what manner to verify the existence of a foreign listed public company in accordance with those systems and controls, the reporting entity must have regard to ML/TF risk relevant to the provision of the designated service, including the location of the foreign stock or equivalent exchange (if any).

(3) If an AML/CTF program includes systems and controls of that kind, an AML/CTF program is taken to comply with the requirements of paragraphs 4.3.5, 4.3.6 and 4.3.7 of these Rules in so far as those customers are concerned.

Methods of verification

4.3.10 Subject to paragraph 4.3.11, an AML/CTF program must require that the verification of information about a company be based as far as possible on:

(1) reliable and independent documentation;

(2) reliable and independent electronic data; or

(3) a combination of (1) and (2) above.

4.3.11 For the purposes of subparagraph 4.3.10(1), ‘reliable and independent documentation’ includes a disclosure certificate that verifies information about the beneficial owners of a company if a reporting entity is permitted to obtain a disclosure certificate as described in Chapter 30.

4.3.12 An AML/CTF program must include appropriate risk‑based systems and controls for the reporting entity to determine whether to rely on a disclosure certificate to verify information about a foreign company where such information is not otherwise reasonably available.

4.3.13 An AML/CTF program must include a requirement that, in determining whether to rely on a disclosure certificate to verify information in relation to a foreign company in accordance with the requirements of paragraph 4.3.12 above, the reporting entity must have regard to ML/TF risk relevant to the provision of the designated service, including the jurisdiction of incorporation of the foreign company as well as the jurisdiction of the primary operations of the foreign company and the location of the foreign stock or equivalent exchange (if any).

Responding to discrepancies

4.3.14 An AML/CTF program must include appropriate risk‑based systems and controls for the reporting entity to respond to any discrepancy that arises in the course of verifying information about a company, so that the reporting entity can determine whether it is reasonably satisfied about the matters referred to in subparagraphs 4.3.2(1) and (2).

Part 4.4 Applicable customer identification procedure with respect to trustees

4.4.1 In so far as a reporting entity has any customer who acts in the capacity of a trustee of a trust, an AML/CTF program must comply with the requirements specified in Part 4.4 of these Rules.

4.4.2 Subject to paragraph 4.4.18, an AML/CTF program must include appropriate risk‑based systems and controls that are designed to enable the reporting entity to be reasonably satisfied, where a person notifies the reporting entity that the person is a customer of the reporting entity in the person’s capacity as the trustee of a trust, that:

(1) the trust exists; and

(2) the name of each trustee and beneficiary, or a description of each class of beneficiary, of the trust has been provided.

Existence of the trust ‑ collection and verification of information

4.4.3 An AML/CTF program must include a procedure for the reporting entity to collect, at a minimum, the following KYC information about a customer:

(1) the full name (if any) of the trust;

(2) the full business name (if any) of the trustee in respect of the trust;

(3) the type of the trust;

(4) the country in which the trust was established;

(5) the full name of the settlor of the trust, unless:

(a) the material asset contribution to the trust by the settlor at the time the trust is established is less than $10,000; or

(b) the settlor is deceased; or

(c) the trust is verified using the simplified trustee verification procedure under paragraph 4.4.8 of these Rules; or

(d) the customer is a custodian.

Note: ‘Custodian’ is defined in subparagraph 4.4.19(1) of these Rules.

(6) if any of the trustees is an individual, then in respect of one of those individuals – the information required to be collected about an individual under the applicable customer identification procedure with respect to individuals set out in an AML/CTF program;

(7) if any of the trustees is a company, then in respect of one of those companies – the information required to be collected about a company under the applicable customer identification procedure with respect to companies set out in an AML/CTF program; and

(8) if the trustees comprise individuals and companies then in respect of either an individual or a company – the information required to be collected about the individual or company (as the case may be) under the applicable customer identification with respect to the individual or company set out in an AML/CTF program.

4.4.4 An AML/CTF program must include appropriate risk‑based systems and controls for the reporting entity to determine whether, in addition to the KYC information referred to in paragraph 4.4.3, any other KYC information relating to the trust’s existence will be collected in respect of a trust.

(1)whether the applicant has complied with the application requirements under paragraph 76.2; and

(2)the information contained in the application, including whether there are reasonable grounds to suspect that any information or document provided by the applicant is false or misleading (whether by inclusion or omission) in a material particular.

Renewal of registration

Applying for renewal of registration

76.4 An application for renewal of registration must be made within the 90-day period ending on the day on which their registration would otherwise cease under section 76H(1)(c) of the AML/CTF Act (being 3 years after the day on which registration took effect).

76.5 An application for renewal must be made using the approved form and must contain all relevant information prescribed by that form, including a declaration that:

(1)the person has complied with the requirements of section 76P of the AML/CTF Act, where applicable; and

(2)the person’s enrolment and registration details as they appear on both the Reporting Entities Roll and the Digital Currency Exchange Register are current and correct.

Provisional continuation of registration

76.6 Provided that an application for renewal of registration has complied with the requirements in paragraphs 76.4 and 76.5, the person’s registration will continue until the date on which the decision of the AUSTRAC CEO takes effect, as specified in the notice provided under paragraph 76.9.

Deciding applications for renewal

76.7 If an application for renewal of registration has been made, the AUSTRAC CEO must renew the registration for a period of three years if satisfied that it is appropriate to do so.

76.8 In deciding whether it is appropriate to renew a person’s registration, the AUSTRAC CEO must have regard to:

(1)whether the applicant has complied with the requirements under paragraph 76.5;

(2)the information contained in the application, including whether there are reasonable grounds to suspect that any information or document provided by the applicant is false or misleading (whether by inclusion or omission) in a material particular; and

(3)whether the renewal of registration may involve significant money laundering, financing of terrorism, or other serious crime risk.

76.9 As soon as practicable after making a decision regarding a renewal application, the AUSTRAC CEO must provide the applicant with written notice of:

(1)the terms of the decision (including any conditions that the renewed registration is subject to); and

(2)if the decision is not to renew registration:

(a)the date the decision takes effect;

(b)the reasons for the decision; and

(c)the particulars of the person’s right to have the decision reviewed.

Note: A decision not to renew registration is declared to be a reviewable decision for the purposes of section 233B of the AML/CTF Act.

76.10 A failure to comply with the requirements of paragraph 76.9 does not affect the validity of the decision.

Suspension of registration

76.11 The AUSTRAC CEO may suspend a person’s registration on the Digital Currency Exchange Register for a specified period of time, with or without prior notice, if satisfied that it is appropriate to do so.

76.12 In deciding whether it is appropriate to suspend a person’s registration, and without limiting the matters that may be considered, the AUSTRAC CEO may have regard to:

(1)whether the person or any of its key personnel have been:

(a)charged, prosecuted, or convicted in relation to money laundering, terrorism financing, terrorism, people smuggling, fraud, a serious offence, or an offence under the AML/CTF Act or FTR Act;

(a)the subject of a civil penalty order made under the AML/CTF Act; or

(b)the subject of any adversely determined civil or criminal proceedings or enforcement action in relation to the management of an entity, or their commercial or professional activities; and

(2)whether there are reasonable grounds to believe that:

(a)any information or document provided under this Chapter was false or misleading (whether by inclusion or omission) in a material particular;

(b)the continued registration of the person involves, or may involve, significant money laundering, financing of terrorism, or other serious crime risk; or

(c)the person has contravened a condition of registration imposed under section 76G of the AML/CTF Act.

76.13 The AUSTRAC CEO may also suspend a person’s registration if reasonable grounds exist on which to commence an action to cancel the registration of the person under section 76J of the AML/CTF Act, and that action has not been completed.

76.14 As soon as practicable after making a decision to suspend a person’s registration, the AUSTRAC CEO must provide the applicant with written notice of:

(1)the terms of the decision; and

(2)if the decision is to suspend registration:

(a)the period of suspension;

(b)the reasons for the decision; and

(c)the particulars of the person’s right to have the decision reviewed.

Note: A decision to suspend registration is declared to be a reviewable decision for the purposes of section 233B of the AML/CTF Act.

76.15 A failure to comply with the requirements of paragraph 76.14 does not affect the validity of the decision.

Cancellation of registration

76.16 In determining whether it is appropriate to cancel a person’s registration, and without limiting the matters that may be considered, the AUSTRAC CEO may consider the matters outlined in paragraph 76.12.

Review of reviewable decisions

76.17 An application to have a decision reviewed does not affect the operation of the decision or prevent the taking of action to implement the decision.

Registered persons to update and correct information

76.18 If a person registered on the Digital Currency Exchange Register becomes aware:

(1)of a change that materially affects any information previously provided under this Chapter; or

(2)that any information or document provided under this Chapter is incorrect, incomplete, or misleading in a material respect,

the person must advise the AUSTRAC CEO and provide updated information in accordance with subsection 76P(2) of the AML/CTF Act.

Note: Subsection 76P(2) of the AML/CTF Act provides that a person registered on the Digital Currency Exchange Register who is required to advise the AUSTRAC CEO of a change in circumstances or a matter must do so in accordance with the approved form, and within 14 days of the change in circumstances or the matter arising.

Correction of entries on the Register

76.19 If the AUSTRAC CEO has reasonable grounds to believe that an entry on the Digital Currency Exchange Register is incorrect, incomplete, or misleading, the AUSTRAC CEO may correct or complete the entry.

76.20 The AUSTRAC CEO must give written notice to the affected person as soon as practicable after amending an entry, specifying:

(1) the changes that were made to the entry and the reasons for amendment; and

(2) the date on which the changes to the entry take effect

Publication of information

76.21 The AUSTRAC CEO may publish, in any manner or form that is considered appropriate, any or all of the following:

(1)the Digital Currency Exchange Register, in whole or in part;

(2)specified information entered on the Digital Currency Exchange Register;

(3)details of persons whose applications for registration or renewal of registration on the Digital Currency Exchange Register have been refused;

(4)details of persons whose registration on the Digital Currency Exchange Register has been suspended, and the date the suspension took effect; and

(5)details of persons whose registration on the Digital Currency Exchange Register has been cancelled, and the date the cancellation took effect.

Definitions

76.22 In this Chapter:

(1)‘approved’ means approved by the AUSTRAC CEO, in writing, for the purposes of the provision in which the term occurs.

(2)‘authorised individual’ means a natural person who is:

(a)a beneficial owner; or

(b)an officer as defined in section 9 of the Corporations Act 2001 or;

(c)an employee of the applicant who has been authorised in writing by an applicant to act in this capacity;

(3)‘key personnel’ means:

(a)in the case of a company, corporation sole or body politic, is a natural person that is;

i.a beneficial owner; or
ii.an officer as defined in section 9 of the Corporations Act 2001, or an employee or agent of the body corporate with duties of such responsibility that his or her conduct may fairly be assumed to represent the body corporate's policy;

(b)in the case of an individual, trust or partnership, is a natural person that is an employee or agent of the individual, trust or partnership with duties of such responsibility that his or her conduct may fairly be assumed to represent the policy of the individual, trust or partnership;

(4)‘serious offence’ means:

(a)an offence against a law of the Commonwealth, or a law of a State or Territory, punishable on indictment by imprisonment for 2 or more years; or

(b)an offence against a law of a foreign country constituted by conduct that, if it had occurred in Australia, would have constituted a serious offence.

Notes to the Anti-Money Laundering and Counter-Terrorism Financing Rules Instrument 2007 (No. 1)

Note 1

The Anti-Money Laundering and Counter-Terrorism Financing Rules Instrument 2007 (No. 1) (in force under section 229 of the Anti-Money Laundering and Counter-Terrorism Financing Act 2006) as shown in this compilation is amended as indicated in the Tables below.

Table of Instruments

Title	Date of FRL registration	Date of commencement	Application, saving or transitional provisions
Anti‑Money Laundering and Counter‑Terrorism Financing Rules Instrument 2007 (No. 1)	13 Apr 2007 (see F2007L01000)	Ss. 1–3: 14 Apr 2007 Schedule 1: 12 June 2007 Schedule 2: 12 Dec 2007
Anti‑Money Laundering and Counter‑Terrorism Financing Rules Amendment Instrument 2007 (No. 1)	28 June 2007 (see F2007L01959)	29 June 2007	—
as amended by
Anti‑Money Laundering and Counter‑Terrorism Financing Rules Amendment Instrument 2007 (No. 2)	24 July 2007 (see F2007L02318)	25 July 2007	—
Anti‑Money Laundering and Counter‑Terrorism Financing Rules Amendment Instrument 2007 (No. 3)	26 Oct 2007 (see F2007L04255)	27 Oct 2007	—
Anti‑Money Laundering and Counter‑Terrorism Financing Rules Amendment Instrument 2007 (No. 4)	18 Dec 2007 (see F2007L04878)	Schedule 1: 12 Dec 2007 Schedule 2: 12 Dec 2008	—
as amended by
Anti‑Money Laundering and Counter‑Terrorism Financing Rules Amendment Instrument 2008 (No. 7)	10 Dec 2008 (see F2008L04629)	11 Dec 2008	—
Anti‑Money Laundering and Counter‑Terrorism Financing Rules Amendment Instrument 2007 (No. 5)	20 Dec 2007 (see F2007L04925)	Ss. 1–3 and Schedule 1: 21 Dec 2007 Schedule 2: 12 Dec 2008 (see s. 2 (b) )	Sch. 3 (as rep. by 2010 (No. 3))
as amended by
Anti‑Money Laundering and Counter‑Terrorism Financing Rules Amendment Instrument 2008 (No. 1)	29 Apr 2008 (see F2008L01170)	30 Apr 2008	—
Anti‑Money Laundering and Counter‑Terrorism Financing Rules Amendment Instrument 2008 (No. 7)	10 Dec 2008 (see F2008L04629)	11 Dec 2008	—
Anti‑Money Laundering and Counter‑Terrorism Financing Rules Amendment Instrument 2009 (No. 3)	9 Jul 2009 (see F2009L02693)	10 Jul 2009	—
Anti‑Money Laundering and Counter‑Terrorism Financing Rules Amendment Instrument 2010 (No. 3)	20 Dec 2010 (see F2010L03318)	Ss. 1-3 and Schedule 2: 21 Dec 2010	—
Anti‑Money Laundering and Counter‑Terrorism Financing Rules Amendment Instrument 2008 (No. 1)	29 Apr 2008 (see F2008L01170)	30 Apr 2008	—
Anti‑Money Laundering and Counter‑Terrorism Financing Rules Amendment Instrument 2008 (No. 2)	2 May 2008 (see F2008L01285)	3 May 2008	—
Anti‑Money Laundering and Counter‑Terrorism Financing Rules Amendment Instrument 2008 (No. 3)	15 May 2008 (see F2008L01373)	16 May 2008	—
Anti‑Money Laundering and Counter‑Terrorism Financing Rules Amendment Instrument 2008 (No. 4)	12 Aug 2008 (see F2008L03047)	13 Aug 2008	—
Anti‑Money Laundering and Counter‑Terrorism Financing Rules Amendment Instrument 2008 (No. 5)	12 Aug 2008 (see F2008L03048)	13 Aug 2008	—
Anti‑Money Laundering and Counter‑Terrorism Financing Rules Amendment Instrument 2008 (No. 6)	9 Oct 2008 (see F2008L03746)	10 Oct 2008	—
Anti‑Money Laundering and Counter‑Terrorism Financing Rules Amendment Instrument 2008 (No. 7)	10 Dec 2008 (see F2008L04629)	11 Dec 2008	—
Anti‑Money Laundering and Counter‑Terrorism Financing Rules Amendment Instrument 2008 (No. 8)	6 Jan 2009 (see F2009L00007)	7 Jan 2009	—
Anti‑Money Laundering and Counter‑Terrorism Financing Rules Amendment Instrument 2009 (No. 1)	24 Mar 2009 (see F2009L01136)	25 Mar 2009	—
Anti‑Money Laundering and Counter‑Terrorism Financing Rules Amendment Instrument 2009 (No. 2)	30 Mar 2009 (see F2009L01198)	31 Mar 2009	—
Anti‑Money Laundering and Counter‑Terrorism Financing Rules Amendment Instrument 2009 (No. 3)	9 Jul 2009 (see F2009L02693)	10 Jul 2009	—
Anti‑Money Laundering and Counter‑Terrorism Financing Rules Amendment Instrument 2009 (No. 4)	24 Aug 2009 (see F2009L03234)	25 Aug 2009	—
Anti‑Money Laundering and Counter‑Terrorism Financing Rules Amendment Instrument 2009 (No. 5)	1 Dec 2009 (see F2009L04377)	2 Dec 2009	—
Anti‑Money Laundering and Counter‑Terrorism Financing Rules Amendment Instrument 2010 (No. 1)	15 April 2010 (see F2010L00964)	16 April 2010	—
Anti‑Money Laundering and Counter‑Terrorism Financing Rules Amendment Instrument 2010 (No. 2)	15 Sept 2010 (see F2010L02476)	16 Sept 2010	—
Anti‑Money Laundering and Counter‑Terrorism Financing Rules Amendment Instrument 2010 (No. 3)	20 Dec 2010 (see F2010L03318)	Ss. 1-3 and Schedules 1 and 2: 21 Dec 2010 Schedule 3: 1 October 2011	—
as amended by
Anti‑Money Laundering and Counter‑Terrorism Financing Rules Amendment Instrument 2011 (No. 6)	27 Sept 2011 (see F2011L01977)	28 Sept 2011	—
Anti‑Money Laundering and Counter‑Terrorism Financing Rules Amendment Instrument 2011 (No. 1)	4 March 2011 (see F2011L00378)	5 March 2011	—
Anti‑Money Laundering and Counter‑Terrorism Financing Rules Amendment Instrument 2011 (No. 2)	20 May 2011 (see F2011L00832)	21 May 2011	—
Anti‑Money Laundering and Counter‑Terrorism Financing Rules Amendment Instrument 2011 (No. 3)	25 May 2011 (see F2011L00861)	26 May 2011	—
Anti‑Money Laundering and Counter‑Terrorism Financing Rules Amendment Instrument 2011 (No. 4)	27 June 2011 (see F2011L01266)	28 June 2011	—
Anti‑Money Laundering and Counter‑Terrorism Financing Rules Amendment Instrument 2011 (No. 5)	22 Aug 2011 (see F2011L01705)	23 Aug 2011	—
Anti‑Money Laundering and Counter‑Terrorism Financing Rules Amendment Instrument 2011 (No. 6)	27 Sept 2011 (see F2011L01977)	28 Sept 2011	—
Anti‑Money Laundering and Counter‑Terrorism Financing Rules Amendment Instrument 2011 (No. 7)	28 Oct 2011 (see F2011L02155)	1 Nov 2011	—
Anti‑Money Laundering and Counter‑Terrorism Financing Rules Amendment Instrument 2011 (No. 8)	21 Dec 2011 (see F2011L02774)	Schedule 1: 22 Dec 2011 Schedule 2: 27 Dec 2011	—
Anti‑Money Laundering and Counter‑Terrorism Financing Rules Amendment Instrument 2012 (No. 1)	31 Jan 2012 (see F2012L00111)	1 Feb 2012	—
Anti‑Money Laundering and Counter‑Terrorism Financing Rules Amendment Instrument 2012 (No. 2)	8 June 2012 (see F2012L01172)	9 June 2012	—
Anti‑Money Laundering and Counter‑Terrorism Financing Rules Amendment Instrument 2012 (No. 3)	27 Jun 2012 (see F2012L01352)	28 June 2012	—
Anti‑Money Laundering and Counter‑Terrorism Financing Rules Amendment Instrument 2012 (No. 4)	6 Sept 2012 (see F2012L01838)	7 Sept 2012	—
Anti‑Money Laundering and Counter‑Terrorism Financing Rules Amendment Instrument 2012 (No. 5)	20 Dec 2012 (see F2012L02563)	21 Dec 2012	—
Anti‑Money Laundering and Counter‑Terrorism Financing Rules Amendment Instrument 2013 (No. 1)	15 April 2013 (see F2013L00655)	16 April 2013	—
Anti‑Money Laundering and Counter‑Terrorism Financing Rules Amendment Instrument 2013 (No. 2)	23 September 2013 (see F2013L01734)	24 September 2013	—
Anti‑Money Laundering and Counter‑Terrorism Financing Rules Amendment Instrument 2014 (No. 1)	24 January 2014 (see F2014L00086)	25 January 2014	—
Anti‑Money Laundering and Counter‑Terrorism Financing Rules Amendment Instrument 2014 (No. 2)	30 January 2014 (see F2014L00110)	31 January 2014	—
Anti‑Money Laundering and Counter‑Terrorism Financing Rules Amendment Instrument 2014 (No. 3)	19 May 2014 (see F2014L00563)	Schedule 1: 20 May 2014 Schedule 2: 1 June 2014	—
Anti‑Money Laundering and Counter‑Terrorism Financing Rules Amendment Instrument 2014 (No. 4)	7 August 2014 (see F2014L01076)	8 August 2014	—
Anti‑Money Laundering and Counter‑Terrorism Financing Rules Amendment Instrument 2014 (No. 5)	23 December 2014 (see F2014L01796)	24 December 2014	—
Anti‑Money Laundering and Counter‑Terrorism Financing Rules Amendment Instrument 2014 (No. 6)	23 December 2014 (see F2014L01797)	1 January 2015	—
Anti‑Money Laundering and Counter‑Terrorism Financing Rules Amendment Instrument 2015 (No. 1)	22 January 2015 (see F2015L00067)	23 January 2015	—
Anti‑Money Laundering and Counter‑Terrorism Financing Rules Amendment Instrument 2015 (No. 2)	11 November 2015 (see F2015L01775)	12 November 2015	—
Anti‑Money Laundering and Counter‑Terrorism Financing Rules Amendment Instrument 2016 (No. 1)	15 September 2016 (see F2016L01444)	16 September 2016	—
Anti‑Money Laundering and Counter‑Terrorism Financing Rules Amendment Instrument 2016 (No. 2)	6 December 2016 (see F2016L01867)	7 December 2016	—
Anti‑Money Laundering and Counter‑Terrorism Financing Rules Amendment Instrument 2017 (No. 1)	19 April 2017 (see F2017L00451)	20 April 2017	—
Anti‑Money Laundering and Counter‑Terrorism Financing Rules Amendment Instrument 2017 (No. 2)	22 June 2017 (see F2017L00733)	23 June 2017	—
Anti‑Money Laundering and Counter‑Terrorism Financing Rules Amendment Instrument 2017 (No. 3)	3 July 2017 (see F2017L00870)	4 July 2017	—
Anti‑Money Laundering and Counter‑Terrorism Financing Rules Amendment Instrument 2017 (No. 4)	20 December 2017 (see F2017L01678)	21 December 2017	—
Anti‑Money Laundering and Counter‑Terrorism Financing Rules Amendment Instrument 2018 (No. 1)	11 January 2018 (see F2018L00037)	12 January 2018	—
Anti‑Money Laundering and Counter‑Terrorism Financing Rules Amendment Instrument 2018 (No. 2)	29 March 2018 (see F2018L00423)	3 April 2018	—
Anti‑Money Laundering and Counter‑Terrorism Financing Rules Amendment Instrument 2018 (No. 3)	20 December 2018 (see F2018L01813)	21 December 2018	—
Anti‑Money Laundering and Counter‑Terrorism Financing Rules Amendment Instrument 2019 (No. 1)	25 February 2019 (see F2019L00182)	26 February 2019	—
Anti‑Money Laundering and Counter‑Terrorism Financing Rules Amendment Instrument 2019 (No. 2)	3 April 2019 (see F2019L00518)	1 May 2019	—

Table of Amendments

ad. = added or inserted am. = amended rep. = repealed rs. = repealed and substituted
Provision affected	How affected
S. 2.........................................	rs. Amdt, 2008 (No. 1)
Note to s. 2............................	rep. Amdt, 2008 (No. 7)
S. 3.........................................	rep. Amdt, 2008 (No. 1)
Schedule 1
Heading to Schedule 1.......	rep. Amdt, 2007 (No. 5)
Schedule 2
Heading to Schedule 2.......	rep. Amdt, 2007 (No. 5)
Schedule 2............................	am. Amdt, 2007 (No. 5) (as am. by Amdt, 2008 (No. 1))
Schedule 3
Heading to Schedule 3.......	rep. Amdt, 2007 (No. 5)
Schedule 3............................	am. Amdt, 2007 (No. 5) (as am. by Amdt, 2008 (No. 1))
Chapter 1
Chapter 1..............................	am. Amdt, 2009 (No. 3) and (No. 4)
am. Amdt, 2011 (No. 1)
am. Amdt, 2012 (No. 1)
am. Amdt, 2013 (No. 1)
am. Amdt, 2014 (No. 1)
am. Amdt, 2014 (No. 3) am. Amdt, 2018 (No.1)
am. Amdt, 2019 (No. 2)
Chapter 2
Chapter 2..............................	rs. Amdt, 2009 (No. 3)
am. Amdt, 2010 (No. 1)
am. Amdt, 2013 (No. 1)
am. Amdt, 2014 (No. 3)
Chapter 3
Chapter 3..............................	am. Amdt, 2008 (No. 7)
am. Amdt, 2013 (No. 1)
am. Amdt, 2014 (No. 3)
am. Amdt, 2018 (No. 2)
Chapter 4
Chapter 4..............................	am. Amdt, 2013 (No. 1)
am. Amdt, 2014 (No. 3)
rs. Amdt, 2014 (No. 3)
am. Amdt, 2015 (No. 1)
am. Amdt, 2015 (No. 2)
rs. Amdt, 2016 (No. 1) am. Amdt, 2018 (No.1)
am. Amdt, 2018 (No. 2)
am. Amdt, 2019 (No. 2)
Chapter 5
Chapter 5..............................	am. Amdt, 2013 (No. 1)
am. Amdt, 2014 (No. 3)
rs. Amdt, 2014 (No. 3)
Chapter 6
Chapter 6..............................	am. Amdt, 2013 (No. 1)
am. Amdt, 2014 (No. 3)
Chapter 7
Chapter 7..............................	am. Amdt, 2007 (No. 4)
am. Amdt, 2013 (No. 1)
am. Amdt, 2014 (No. 3)
Chapter 8
Chapter 8..............................	am. Amdt, 2012 (No. 1)
am. Amdt, 2013 (No. 1)
am. Amdt, 2014 (No. 3)
am. Amdt, 2014 (No. 4) am. Amdt, 2018 (No.1)
Chapter 9
Chapter 9..............................	am. Amdt, 2012 (No. 1)
am. Amdt, 2013 (No. 1)
am. Amdt, 2014 (No. 3)
am. Amdt, 2014 (No. 4) am. Amdt, 2018 (No.1)
Chapter 10
Chapter 10............................	am. Amdt, 2013 (No. 1)
am. Amdt, 2014 (No. 3)
am. Amdt, 2018 (No. 2)
ed.C54 am. Amdt 2019 (No. 1)
Chapter 11
Chapter 11............................	ad. Amdt, 2007 (No. 1)
am. Amdt, 2008 (No. 8)
am. Amdt, 2009 (No. 5)
am. Amdt, 2010 (No. 3)
am. Amdt, 2011 (No. 8)
am. Amdt, 2012 (No. 5)
rs. Amdt, 2013 (No. 2)
am. Amdt, 2014 (No. 3)
rs. Amdt, 2014 (No. 5)
rs. Amdt, 2015 (No. 2)
am. Amdt, 2016 (No. 2) rs. Amdt, 2018 (No.3)
Chapter 12
Chapter 12............................	ad. Amdt, 2007 (No. 1) (as am. by Amdt, 2007 (No. 2))
am. Amdt, 2013 (No. 1)
am. Amdt, 2014 (No. 3)
am. Amdt, 2018 (No. 2)
Chapter 13
Chapter 13............................	ad. Amdt, 2007 (No. 1) (as am. by Amdt, 2007 (No. 2))
am. Amdt, 2013 (No. 1)
am. Amdt, 2014 (No. 3)
Chapter 14
Chapter 14............................	ad. Amdt, 2007 (No. 3)
am. Amdt, 2008 (No. 6)
am. Amdt, 2013 (No. 1)
am. Amdt, 2014 (No. 3)
Chapter 15
Heading to Chapter 15.......	am. Amdt, 2007 (No. 5)
Chapter 15............................	ad. Amdt, 2007 (No. 4) (as am. by Amdt, 2008 (No. 7))
am. Amdt, 2011 (No. 5)
am. Amdt, 2013 (No. 1)
am. Amdt, 2014 (No. 3)
rs. Amdt, 2014 (No. 3)
am. Amdt, 2019 (No. 2)
Chapter 16
Heading to Chapter 16.......	am. Amdt, 2007 (No. 5)
Chapter 16............................	ad. Amdt, 2007 (No. 4) (as am. by Amdt, 2008 (No. 7))
am. Amdt, 2011 (No. 2)
am. Amdt, 2013 (No. 1)
am. Amdt, 2014 (No. 3)
Chapter 17
Heading to Chapter 17.......	am. Amdt, 2007 (No. 5)
Chapter 17............................	ad. Amdt, 2007 (No. 4) (as am. by Amdt, 2008 (No. 7))
am. Amdt, 2011 (No. 1)
am. Amdt, 2013 (No. 1)
am. Amdt, 2014 (No. 3)
Chapter 18
Heading to Chapter 18.......	am. Amdt, 2007 (No. 5)
Chapter 18............................	ad. Amdt, 2007 (No. 4) (as am. by Amdt, 2008 (No. 7))
am. Amdt, 2013 (No. 1)
am. Amdt, 2014 (No. 3)
am. Amdt, 2018 (No. 2)
ed. C54
Chapter 19
Chapter 19............................	ad. Amdt, 2007 (No. 5) (as am. by Amdt, 2008 (No. 1), 2008 (No. 7) and 2009 (No. 3))
am. Amdt, 2009 (No. 3)
rs. Amdt, 2010 (No. 3) (as am. by Amdt, 2011 (No. 6))
am. Amdt, 2011 (No. 8)
am. Amdt, 2013 (No. 1)
am. Amdt, 2014 (No. 3)
am. Amdt, 2018 (No. 2)
Chapter 20
Chapter 20............................	ad. Amdt, 2008 (No. 1)
am. Amdt, 2013 (No. 1)
am. Amdt, 2014 (No. 3)
Chapter 21
Chapter 21............................	ad. Amdt, 2008 (No. 2)
am. Amdt, 2012 (No. 1)
am. Amdt, 2013 (No. 1)
am. Amdt, 2014 (No. 2)
am. Amdt, 2014 (No. 3)
Chapter 22
Chapter 22............................	ad. Amdt, 2008 (No. 3)
am. Amdt, 2013 (No. 1)
am. Amdt, 2014 (No. 3)
rs. Amdt, 2017 (No. 2)
Chapter 23
Chapter 23............................	ad. Amdt, 2008 (No. 5)
Heading to Chapter 23…….	rs. Amdt, 2011 (No. 8)
Chapter 23............................	am. Amdt, 2011 (No. 8)
am. Amdt, 2013 (No. 1)
am. Amdt, 2014 (No. 3)
Chapter 24
Chapter 24............................	ad. Amdt, 2008 (No. 7)
am. Amdt, 2013 (No. 1)
am. Amdt, 2014 (No. 3)
Chapter 25
Chapter 25............................	ad. Amdt, 2008 (No. 7)
am. Amdt, 2013 (No. 1)
am. Amdt, 2014 (No. 3)
Chapter 26
Chapter 26............................	ad. Amdt, 2008 (No. 7)
am. Amdt, 2013 (No. 1)
am. Amdt, 2014 (No. 3)
Chapter 27
Chapter 27............................	ad. Amdt, 2008 (No. 7)
am. Amdt, 2012 (No. 4)
am. Amdt, 2013 (No. 1)
am. Amdt, 2014 (No. 3)
am. Amdt, 2014 (No. 4)
Chapter 28
Chapter 28............................	ad. Amdt, 2009 (No. 1)
am. Amdt, 2012 (No. 1)
am. Amdt, 2013 (No. 1)
am. Amdt, 2014 (No. 3)
Chapter 29
Chapter 29............................	ad. Amdt, 2009 (No. 2)
rs. Amdt, 2013 (No. 1)
am. Amdt, 2014 (No. 3)
Chapter 30
Chapter 30............................	ad. Amdt, 2009 (No. 2)
am. Amdt, 2013 (No. 1)
am. Amdt, 2014 (No. 3)
rs. Amdt, 2014 (No. 3) rs. Amdt, 2018 (No.1)
Chapter 31
Chapter 31............................	ad. Amdt, 2009 (No. 2)
am. Amdt, 2013 (No. 1)
am. Amdt, 2014 (No. 3)
Chapter 32
Chapter 32............................	ad. Amdt, 2009 (No. 2)
am. Amdt, 2013 (No. 1)
am. Amdt, 2014 (No. 3)
Chapter 33
Chapter 33............................	ad. Amdt, 2009 (No. 2)
am. Amdt, 2013 (No. 1)
am. Amdt, 2014 (No. 3)
Chapter 34
Chapter 34............................	ad. Amdt, 2009 (No. 2)
am. Amdt, 2011 (No. 8)
am. Amdt, 2013 (No. 1)
am. Amdt, 2014 (No. 3)
Chapter 35
Chapter 35............................	ad. Amdt, 2009 (No. 3)
am. Amdt, 2013 (No. 1)
am. Amdt, 2014 (No. 3)
Chapter 36
Chapter 36............................	ad. Amdt, 2009 (No. 4)
am. Amdt, 2013 (No. 1)
am. Amdt, 2014 (No. 3) rs. Amdt, 2018 (No.1)
Chapter 37
Chapter 37............................	ad. Amdt, 2009 (No. 4)
am. Amdt, 2013 (No. 1)
am. Amdt, 2014 (No. 3)
am. Amdt, 2018 (No. 2)
Chapter 38
Chapter 38............................	ad. Amdt, 2009 (No. 4)
am. Amdt, 2013 (No. 1)
rs. Amdt, 2013 (No. 2)
am. Amdt, 2014 (No. 3)
am. Amdt, 2016 (No. 1)
am. Amdt, 2019 (No. 2)
Chapter 39
Chapter 39............................	ad. Amdt, 2009 (No. 4)
am. Amdt, 2011 (No. 4)
am. Amdt, 2012 (No. 3)
am. Amdt, 2013 (No. 1)
am. Amdt, 2014 (No. 3)
Chapter 40
Chapter 40............................	ad. Amdt, 2009 (No. 5)
am. Amdt, 2013 (No. 1)
am. Amdt, 2014 (No. 3)
Chapter 41
Chapter 41............................	ad. Amdt, 2009 (No. 5)
rs. Amdt, 2012 (No. 5)
am. Amdt, 2014 (No. 3)
Chapter 42
Chapter 42............................	ad. Amdt, 2009 (No. 5)
am. Amdt, 2013 (No. 1)
am. Amdt, 2014 (No. 3)
Chapter 43
Chapter 43............................	ad. Amdt, 2009 (No. 5)
am. Amdt, 2013 (No. 1)
am. Amdt, 2014 (No. 3)
Chapter 44
Chapter 44............................	ad. Amdt, 2010 (No. 1)
am. Amdt, 2013 (No. 1)
am. Amdt, 2014 (No. 3)
rep. Amdt, 2018 (No. 2)
Chapter 45
Chapter 45............................	ad. Amdt, 2010 (No. 1)
am. Amdt, 2013 (No. 1)
am. Amdt, 2014 (No. 3)
am. Amdt, 2018 (No. 2)
Chapter 46
Chapter 46............................	ad. Amdt, 2010 (No. 2)
am. Amdt, 2013 (No. 1)
am. Amdt, 2014 (No. 3)
Chapter 47
Chapter 47............................	ad. Amdt, 2010 (No. 2)
am. Amdt, 2013 (No. 1)
am. Amdt, 2014 (No. 3)
Chapter 48
Chapter 48............................	ad. Amdt, 2010 (No. 2)
am. Amdt, 2013 (No. 1)
am. Amdt, 2014 (No. 3)
Chapter 49
Chapter 49............................	ad. Amdt, 2011 (No. 1)
am. Amdt, 2013 (No. 1)
am. Amdt, 2014 (No. 3)
Chapter 50
Chapter 50............................	ad. Amdt, 2011 (No. 1)
am. Amdt, 2013 (No. 1)
am. Amdt, 2014 (No. 3)
Chapter 51
Chapter 51............................	ad. Amdt, 2011 (No. 2)
am. Amdt, 2011 (No. 8)
rs. Amdt, 2012 (No. 1)
am. Amdt, 2012 (No. 4)
am. Amdt, 2013 (No. 1)
am. Amdt, 2014 (No. 3)
am. Amdt, 2017 (No. 3)
Chapter 52
Chapter 52............................	ad. Amdt, 2011 (No. 3)
am. Amdt, 2013 (No. 1)
am. Amdt, 2014 (No. 3)
Chapter 53
Chapter 53............................	ad. Amdt, 2011 (No. 6)
am. Amdt, 2013 (No. 1)
am. Amdt, 2014 (No. 3)
rep. Amdt, 2018 (No. 2)
Chapter 54
Chapter 54............................	ad. Amdt, 2011 (No. 7)
am. Amdt, 2013 (No. 1)
am. Amdt, 2014 (No. 3)
Chapter 55
Chapter 55............................	ad. Amdt, 2011 (No. 7)
am. Amdt, 2013 (No. 1)
am. Amdt, 2014 (No. 3)
Chapter 56
Chapter 56............................	ad. Amdt, 2011 (No. 7)
am. Amdt, 2012 (No. 2)
am. Amdt, 2012 (No. 4)
am. Amdt, 2013 (No. 1)
am. Amdt, 2013 (No. 2)
am. Amdt, 2014 (No. 3)
am. Amdt, 2014 (No. 4)
am. Amdt, 2016 (No. 1)
Chapter 57
Chapter 57............................	ad. Amdt, 2011 (No. 7)
am. Amdt, 2012 (No. 4)
am. Amdt, 2013 (No. 1)
am. Amdt, 2014 (No. 3)
am. Amdt, 2018 (No. 2)
ed. C54
Chapter 58
Chapter 58............................	ad. Amdt, 2011 (No. 7)
am. Amdt, 2013 (No. 1)
am. Amdt, 2014 (No. 3)
am. Amdt, 2014 (No. 4)
Chapter 59
Chapter 59............................	ad. Amdt, 2011 (No. 7)
am. Amdt, 2013 (No. 1)
am. Amdt, 2014 (No. 3)
am. Amdt, 2014 (No. 4)
rs. Amdt, 2017 (No. 1)
Chapter 60
Chapter 60............................	ad. Amdt, 2011 (No. 7)
am. Amdt, 2013 (No. 1)
am. Amdt, 2014 (No. 3)
am. Amdt, 2014 (No. 4)
am. Amdt, 2016 (No. 1)
Chapter 61
Chapter 61............................	ad. Amdt, 2011 (No. 7)
am. Amdt, 2013 (No. 1)
am. Amdt, 2014 (No. 3)
Chapter 62
Chapter 62............................	ad. Amdt, 2011 (No. 7)
am. Amdt, 2013 (No. 1)
am. Amdt, 2014 (No. 3)
Chapter 63
Chapter 63............................	ad. Amdt, 2011 (No. 7)
am. Amdt, 2012 (No. 2)
am. Amdt, 2012 (No. 4)
am. Amdt, 2013 (No. 1)
am. Amdt, 2014 (No. 3)
am. Amdt, 2014 (No. 4)
am. Amdt, 2015 (No. 1)
Chapter 64
Chapter 64............................	ad. Amdt, 2011 (No. 7)
am. Amdt, 2013 (No. 1)
am. Amdt, 2014 (No. 3)
Chapter 65
Chapter 65............................	ad. Amdt, 2011 (No. 7)
am. Amdt, 2013 (No. 1)
am. Amdt, 2014 (No. 3)
am. Amdt, 2014 (No. 4)
am. Amdt, 2015 (No. 1)
Chapter 66
Chapter 66............................	ad. Amdt, 2011 (No. 8)
am. Amdt, 2013 (No. 1)
am. Amdt, 2014 (No. 3)
Chapter 67
Chapter 67............................	ad. Amdt, 2012 (No. 1)
am. Amdt, 2013 (No. 1)
am. Amdt, 2014 (No. 3)
Chapter 68
Chapter 68............................	ad. Amdt, 2012 (No. 4)
am. Amdt, 2013 (No. 1)
am. Amdt, 2014 (No. 3)
Chapter 69
Chapter 69............................	ad. Amdt, 2014 (No. 1)
am. Amdt, 2014 (No. 3)
Chapter 70
Chapter 70............................	ad. Amdt, 2014 (No. 4)
am. Amdt. 2018 (No. 2)
ed. C54
Chapter 71
Chapter 71............................	ad. Amdt, 2014 (No. 6)
Chapter 72
Chapter 72............................	ad. Amdt, 2016 (No. 2)
Chapter 73
Chapter 73............................	ad. Amdt, 2016 (No. 2)
Chapter 74
Chapter 74............................	ad. Amdt, 2017 (No. 1)
am. Amdt, 2018 (No. 2)
Chapter 75
Chapter 75............................	ad. Amdt, 2017 (No. 4)
Chapter 76
Chapter 76............................	ad. Amdt, 2018 (No. 2)