Document ID: chunk:federal_register_of_legislation:F2024C01198:body:0:p18
Version: federal_register_of_legislation:F2024C01198
Segment Type: other
Provision Reference: 
Character Range: 49138–51988

'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