Document ID: chunk:federal_register_of_legislation:C2011A00060:clause:1_24
Version: federal_register_of_legislation:C2011A00060
Segment Type: clause
Provision Reference: sch 1 cl 24
Character Range: 13125–14692

24  Subsection 74(1)
Repeal the subsection, substitute:

Registrable remittance network services
 (1) A person (the first person) must not provide a registrable remittance network service to another person if:
 (a) the first person is not a registered remittance network provider; or
 (b)  the first person is a registered remittance network provider, but the person to whom the service is provided is not a registered remittance affiliate of the first person.

Registrable designated remittance services—independents
 (1A) A person must not provide a registrable designated remittance service if:
 (a) the person provides the service other than as part of a remittance network operated by a registered remittance network provider; and
 (b) the person is not a registered independent remittance dealer.

Registrable designated remittance services—affiliates
 (1B) A person must not provide a registrable designated remittance service if:
 (a) the person provides the service as part of a remittance network operated by a registered remittance network provider; and
 (b) the person is not a registered remittance affiliate of the registered remittance network provider.

Breach of conditions
 (1C) A person must not breach a condition to which the registration of the person as any of the following is subject:
 (a) a remittance network provider;
 (b) an independent remittance dealer;
 (c) a remittance affiliate of a registered remittance network provider.
Note: The heading to section 74 is altered by omitting "registrable designated" and substituting "certain".