Document ID: chunk:federal_register_of_legislation:F2024C01198:body:0:p5
Version: federal_register_of_legislation:F2024C01198
Segment Type: other
Provision Reference: 
Character Range: 11732–14667

1.2 Key terms and concepts

    1.2.1 In these Rules:

    accredited translator means:
        (1) a person currently accredited by the National Accreditation Authority for Translators and Interpreters Ltd. (NAATI) at the level of Professional Translator, or above, to translate from a language other than English into English; or
        (2) a person who currently holds an accreditation that is consistent with the standard specified in (1).

    the AML/CTF Act means the Anti‑Money Laundering and Counter‑Terrorism Financing Act 2006.

    AML/CTF program means an anti‑money laundering and counter‑terrorism financing program as defined in section 83 of the AML/CTF Act.

    Australian Government Entity means:
        (1) the Commonwealth, a State or a Territory; or
        (2) an agency or authority of:
           (a) the Commonwealth; or
           (b) a State; or
           (c) a local governing body established by or under a law of the Commonwealth, a State or Territory, other than a body whose sole or principal function is to provide a particular service, such as the supply of electricity or water;

beneficial owner:

         (1) of a person who is a reporting entity, means an individual who owns or controls (directly or indirectly) the reporting entity;

         (2) of a person who is a customer of a reporting entity, means an individual who ultimately owns or controls (directly or indirectly) the customer;

         (3) In this definition: control includes control as a result of, or by means of, trusts, agreements, arrangements, understandings and practices, whether or not having legal or equitable force and whether or not based on legal or equitable rights, and includes exercising control through the capacity to determine decisions about financial and operating policies; and

         (4) In this definition: owns means ownership (either directly or indirectly) of 25% or more of a person.

          Note: The definition 'control test' does not apply to this definition.

    certified copy means a document that has been certified as a true copy of an original document by one of the following persons:

         (1) a person who, under a law in force in a State or Territory, is currently licensed or registered to practise in an occupation listed in Part 1 of Schedule 1 of the Statutory Declarations Regulations 2023;

         (2) a person who is enrolled on the roll of the Supreme Court of a State or Territory, or the High Court of Australia, as a legal practitioner (however described);

         (3) a person listed in Part 2 of Schedule 1 of the Statutory Declarations Regulations 2023. For the purposes of these Rules, where Part 2 uses the term '5 or more years of continuous service', this should be read as '2 or more years of continuous service';

         (4) an officer with, or authorised representative of, a holder of an Australian financial services licence, having