Document ID: chunk:federal_register_of_legislation:F2024C01198:body:0:p61
Version: federal_register_of_legislation:F2024C01198
Segment Type: other
Provision Reference: 
Character Range: 169949–172983

obligations under the AML/CTF Act that apply to the provision by the reporting entity of designated services at or through a permanent establishment of the reporting entity in a foreign country.

     8.8.3 Where a reporting entity's permanent establishment in a foreign jurisdiction is regulated by anti‑money laundering and counter‑terrorism financing laws comparable to Australia, only minimal additional systems and controls need to be considered.

     8.8.4 The requirements in parts 8.4 to 8.7 of these Rules apply in relation to a permanent establishment in a foreign country at or through which a reporting entity provides designated services. The requirements in parts 8.1 to 8.3 of these Rules do not apply in relation to a permanent establishment in a foreign country at or through which a reporting entity provides designated services.
          Part 8.9 Reporting obligations

     8.9.1 Part A of a reporting entity's AML/CTF program must include:

         (1) the obligations that apply to the reporting entity under sections 41, 43, 45 and 47 of the AML/CTF Act (reporting obligations); and

         (2) appropriate systems and controls of the reporting entity designed to ensure compliance with the reporting obligations of the reporting entity; and

         (3) the obligations that apply to the reporting entity under section 51F of the AML/CTF Act and Chapter 64 of the AML/CTF Rules; and

         (4) where the reporting entity is a remittance dealer, the obligations that apply to the remittance dealer under section 75M of the AML/CTF Act (as applicable) to advise:

            (a) the AUSTRAC CEO of material changes in circumstances and other specified circumstances under subsections 75M(1) and 75M(3) of the AML/CTF Act; or

            (b) the registered remittance network provider of material changes in circumstances and other specified circumstances under subsection 75M(2) of the AML/CTF Act.

     Note: Remittance dealers should also refer to Chapter 60 of the AML/CTF Rules which specifies the material changes to registration details which must be reported to the AUSTRAC CEO.

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 9
          Part 9.1 Part A of a joint anti‑money laundering and counter‑terrorism financing (AML/CTF) program

     9.1.1 These Anti-Money Laundering and Counter-Terrorism Financing Rules (Rules) are made pursuant to section 229 and (in relation to these Rules in Parts 9.1 to 9.7 and 9.9) for the purposes of paragraphs 36(1)(b) and 85(2)(c) of the Anti-Money Laundering and Counter-Terrorism Financing Act 2006 (AML/CTF Act). Part 7 of the AML/CTF Act obliges a reporting entity