Document ID: chunk:federal_register_of_legislation:F2024C01198:body:0:p200
Version: federal_register_of_legislation:F2024C01198
Segment Type: other
Provision Reference: 
Character Range: 553040–555759

law of the Commonwealth, or a law of a State or Territory, punishable on indictment by imprisonment for life or 2 or more years, that may be dealt with as an indictable offence (even if it may, in some circumstances, be dealt with as a summary offence) regardless of whether the offence proceeds summarily or on indictment; 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.

         A 'serious offence' in relation to a person other than an individual means an offence which would have been a serious offence if the person had been an individual;

         (10) 'terrorism' means conduct that amounts to:

              (a) an offence against Division 101 or 102 of the Criminal Code; or

              (b) an offence against a law of a State or Territory that corresponds to an offence referred to in paragraph (a); or

              (c) an offence against a law of a foreign country or of a part of a foreign country that corresponds to an offence referred to in paragraph (a).

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 http://www.oaic.gov.au or call 1300 363 992.
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

    71.1 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 Items 1, 2 and 3 in Table 1 of subsection 6(2) of that Act.

    71.2 For the purposes of paragraph (e) of Item 1 in Table 1 of subsection 6(2) of the AML/CTF Act, a person undertaking the activity of credit card issuing or credit card acquiring (or both) is specified, if the person:

         (1) is a participant in a payment scheme that is designated to be a payment system under section 11 of the Payments Systems (Regulation) Act 1998; and

         (2) is not an ADI, bank, building society or credit union.

    71.3 For the purposes of paragraph (e) of Item 2 in Table 1 of subsection 6(2) of the AML/CTF Act, a person undertaking the activity of credit card issuing or credit card acquiring (or both) is specified, if the person:

         (1) is a participant in a payment scheme that is designated to be a payment system