Document ID: chunk:federal_register_of_legislation:F2024C01198:body:0:p101
Version: federal_register_of_legislation:F2024C01198
Segment Type: other
Provision Reference: 
Character Range: 283420–286415

AFS licence which authorises that agent to provide the designated service on behalf of the person, or is appointed as an authorised representative under section 916A of the Corporations Act 2001 to provide the designated service on behalf of the person; or

               (iii) the person is, by regulation made under section 134 of the Electricity Industry Act 2004 (WA), exempt from the requirement to hold an AFS licence which authorises that person to provide the designated service; and

         (2) the person who is the customer of the designated service:

              (a) is registered as a Registered Participant under the National Electricity Rules; or

              (b) is a Generator who under Rule 2.9.3 of the National Electricity Rules is exempt from registration; or

              (c) is registered as a Rule Participant under the Wholesale Electricity Market Rules; or

             (d) in a registrable capacity set out in Rule 135A, is registered as a Registered Participant under Rule 135AE of the National Gas Rules; or

             (e) in a registrable capacity set out in Rule 135ABA, is registered as a Registered Participant under Rule 135AE of the National Gas Rules; or

              (f) is acting on behalf of a person specified in subparagraphs 22.3(2)(a)-(e).

    22.4 Subject to paragraph 22.5, the AML/CTF Act does not apply to a designated service that:

         (1) is of a kind described in item 33 of table 1 in section 6 of the AML/CTF Act; and

         (2) relates to the over-the-counter derivatives market in Australia in respect of one or more of the following commodities or products:

         (a) electricity; or

         (b) gas; or

         (c) environmental products; or

             (d) coal, oil, diesel or other form of fuel used in the generation of electricity by either:

         (i) the provider of the designated service; or

         (ii) the customer; or

         (e) interest rate derivative products; or

             (f) weather index or scale products relating to precipitation, temperature, wind, humidity or solar exposure; or

           (g)  foreign exchange derivative products; or

             (h) oil derivative products linked to gas supply contracts.

    22.5 The exemption in paragraph 22.4 only applies if:

         (1) the person who provides the designated service:

             (a) is acting in the capacity of an agent of a person who is registered as a Registered Participant under the National Electricity Rules; or

             (b) is acting in the capacity of an agent of a person who is a Generator who under Rule 2.9.3 of the National Electricity Rules is exempt from registration; or

             (c) is acting in the capacity of an agent of a person who is registered as a Rule Participant under the Wholesale Electricity Market Rules; or

             (d) is acting in the capacity of an agent of a person who in a registrable capacity set out in Rule 135A, and