Document ID: chunk:federal_register_of_legislation:F2024C01198:body:0:p141
Version: federal_register_of_legislation:F2024C01198
Segment Type: other
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Character Range: 393738–396897

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

    Part 51.1 Introduction

      51.1.1 These Anti-Money Laundering and Counter-Terrorism Financing Rules (Rules) are made under section 229 of the Anti-Money Laundering and Counter-Terrorism Financing Act 2006 (AML/CTF Act) for the definition of 'financial institution' in section 5 of the AML/CTF Act under paragraph (e), the definition of 'non-financier' in section 5 of the AML/CTF Act under paragraph (e), the definition of 'ordering institution' and 'beneficiary institution' in subparagraphs 8(1)(c)(v), 8(1)(d)(v), 8(2)(c)(v), 9(1)(c)(v), 9(1)(d)(v) and 9(2)(c)(v) of the AML/CTF Act and the conditions under paragraph 45(1)(c) of that Act.

         Part 51.2  Convera Australia Pty Ltd

      51.2.1 For the purposes of subparagraph (e) of the definition of 'financial institution' in section 5 of the AML/CTF Act, the following persons are specified, subject to the applicable conditions in paragraph 51.2.4:

           (1) Convera Australia Pty Ltd ABN 24 150 129 749.

      51.2.2 For the purposes of subparagraph (e) of the definition of 'non-financier' in section 5 of the AML/CTF Act, the following persons are specified, subject to the applicable conditions in paragraph 51.2.4:

           (1) Convera Australia Pty Ltd ABN 24 150 129 749.

      51.2.3 For the purposes of subparagraphs 8(1)(c)(v), 8(1)(d)(v), 8(2)(c)(v), 9(1)(c)(v), 9(1)(d)(v) and 9(2)(c)(v), the following persons are specified, subject to the applicable conditions in paragraph 51.2.4:

           (1) Convera Australia Pty Ltd ABN 24 150 129 749.

      51.2.4 For the purposes of paragraphs 51.2.1 – 51.2.3, the following conditions are specified in relation to international funds transfer instructions covered by item 1 or 2 of the table in section 46:

          (1) the person uses a proprietary system to send or receive the international funds transfer instruction; and

          (2) the person is licensed under the Corporations Act 2001 to deal in a foreign exchange contract; and

          (3) the person is not acting in the capacity of an agent of a non-financier; and either of the following two additional conditions is also met:

          (4) the person is a wholly owned or majority owned subsidiary of an ADI, bank, building society or credit union; or

          (5) the person is part of a member-administered closed user group.

         Part 51.3 PayPal Pte Ltd., PayPal Inc and PayPal Hong Kong Limited.

      51.3.1 For the purposes of subparagraphs 8(1)(c)(v), 8(1)(d)(v), 8(2)(c)(v), 9(1)(c)(v), 9(1)(d)(v) and 9(2)(c)(v), the following persons are specified:

          (1) PayPal Pte Ltd. 200509725E (PayPal Singapore) 09-01