Document ID: chunk:federal_register_of_legislation:F2024C01198:body:0:p193
Version: federal_register_of_legislation:F2024C01198
Segment Type: other
Provision Reference: 
Character Range: 533927–537013

992.

CHAPTER 70 Renewal of registration

    70.1 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 purposes of section 75J of that Act. Sections 136 and 137 of the AML/CTF Act apply to each paragraph of this Chapter.

     Application period

    70.2 A reporting entity which is:

         (1) (a) a registered remittance network provider; or

         (b) a registered independent remittance dealer;

         may apply to the AUSTRAC CEO, within the 90 day period preceding the day on which their registration would otherwise cease, for a renewal of that registration;

         (2) a registered remittance network provider may apply to the AUSTRAC CEO, within the 90 day period preceding the day on which the registration of a registered remittance affiliate of the registered remittance network provider would cease, for a renewal of the registration of the registered remittance affiliate.

     Applications for renewal of registration

     Remittance Network Provider

    70.3 An application for renewal of registration as a remittance network provider must be made by an authorised individual on behalf of the registered remittance network provider and contain a declaration that:

         (1) the registration details of the registered remittance network provider as they appear on the Remittance Sector Register are correct and current at the time of the declaration;

         (2) the enrolment details of the registered remittance network provider as they appear on the Reporting Entities Roll are correct and current at the time of the declaration;

         (3) the remittance network provider has complied with the requirements of section 75M of the AML/CTF Act and the Schedule to Chapter 60 of the AML/CTF Rules;

         (4) the authorised individual has notified the AUSTRAC CEO as to whether the remittance network provider and any of its key personnel have been:

              (a) charged, prosecuted and/or convicted in relation to money laundering, financing of terrorism, terrorism, people smuggling, fraud, a serious offence, an offence under the AML/CTF Act, or an offence under the Financial Transaction Reports Act 1988 (FTR Act);

              (b) subject of a civil penalty order made under the AML/CTF Act;

              (c) the subject of civil or criminal proceedings or enforcement action, in relation to the management of an entity, or commercial or professional activities, which were determined adversely to the remittance network provider or any of its key personnel (including by the remittance network provider or any of its key personnel consenting to an order or direction, or giving an undertaking, not to engage in unlawful or improper conduct) and which reflected adversely on the competence, diligence, judgement, honesty or integrity of the remittance network provider or any of its key personnel;

         (5) the remittance network provider has complied with the