Document ID: chunk:federal_register_of_legislation:F2020L01470:clause:1_1
Version: federal_register_of_legislation:F2020L01470
Segment Type: clause
Provision Reference: sch 1 cl 1
Character Range: 2323–4026

1  After Chapter 77
Insert:

              CHAPTER 78 TransferWise Australia Pty Ltd

78.1 These Anti-Money Laundering and Counter-Terrorism Financing Rules are made under section 229 for the purposes of subparagraphs 8(1)(c)(v), 8(1)(d)(v), 9(1)(c)(v) and 9(1)(d)(v) and paragraph 45(1)(c) of the Act.

         Definition of ordering and beneficiary institutions

78.2 Each of the following persons is specified to be an ordering institution:

         (1) TransferWise Limited 07209813, 6th Floor, Tea Building, 56 Shoreditch High Street, London E1 6JJ, England (TransferWise);

         (2) a subsidiary of TransferWise other than TransferWise Australia Pty Ltd ABN 38 616 463 855 (TransferWise Australia).

78.3 Each of the following persons is specified to be a beneficiary institution:

         (1) TransferWise;

         (2) a subsidiary of TransferWise other than TransferWise Australia.

         Conditions for reports of international funds transfer instructions

78.4 Section 45 of the Act only applies to an instruction involving a person specified in paragraph 78.2 as the ordering institution if:

        (1)       TransferWise Australia is the beneficiary institution; and

        (2)        the instruction is accepted at or through a permanent establishment of the person in a foreign county.

78.5 Section 45 of the Act only applies to an instruction involving a person specified in paragraph 78.3 as the beneficiary institution if:

        (1)        TransferWise Australia is the ordering institution; and

        (2)        the transferred money is to be, or is, made available to the payee at or through a permanent establishment of the person in a foreign country.