Document ID: chunk:federal_register_of_legislation:F2024C01198:body:0:p122
Version: federal_register_of_legislation:F2024C01198
Segment Type: other
Provision Reference: 
Character Range: 341795–344896

full name of the appropriate officer;

         (4) contain certification by the appropriate officer that the information contained in the disclosure certificate is true, accurate, and complete, to the best of their knowledge and belief; and

         (5) contain the date of certification by the appropriate officer.

     Note: Reporting entities seeking to rely on a disclosure certificate to verify information should be aware that criminal or civil penalties may apply under Part 12 of the AML/CTF Act for providing false or misleading information, producing false or misleading documents, and for receiving a designated service using a false customer name.

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 31 Exemption of certain types of transactions relating to currency exchange transactions

     31.1 These Anti-Money Laundering and Counter-Terrorism Financing Rules (Rules) are made under section 229 for subsection 247(3) of the Anti-Money Laundering and Counter-Terrorism Financing Act 2006 (AML/CTF Act).

     31.2 Subject to paragraph 31.3, the AML/CTF Act does not apply to the provision of a designated service of the kind described in item 50 of table 1 in subsection 6(2) of the AML/CTF Act.

     31.3 The exemption in paragraph 31.2 applies only if:

          (1) the designated service is provided in the course of carrying on a business of providing traveller accommodation; and

          (2) the customer of the designated service is a registered guest at the place of the traveller accommodation; and

          (3) the currency exchanged must not exceed:

              (a) $500 (Australian or the foreign equivalent) per registered guest per day; and

              (b) $1,000 (Australian or the foreign equivalent) per room account per day; and

          (4) any charge relating to the designated service that is imposed on the registered guest, is levied to the room account of the registered guest; and

          (5) the provider of the designated service does not provide any other type of designated services described in subsections 6(2)-(5) of the AML/CTF Act, excepting the provision of the designated service specified in item 47 of table 1 in subsection 6(2) of the AML/CTF Act provided in accordance with the conditions of the Chapter 32 AML/CTF Rules relating to safe deposit boxes or similar facilities.

     31.4 In this Chapter:

          (1) 'registered guest' means an individual who engages sleeping accommodation at the traveller accommodation, the period of which includes the time at which the designated service is provided;

          (2) 'traveller accommodation' means:

                (a)  backpacker; or

                (b) bed and breakfast; or