Document ID: chunk:federal_register_of_legislation:C2024A00110:clause:6_12
Version: federal_register_of_legislation:C2024A00110
Segment Type: clause
Provision Reference: sch 6 cl 12
Character Range: 129729–131082

12  Section 5 (definition of stored value card)
Repeal the definition, substitute:
stored value card means a thing (whether real or virtual):
 (a) that stores monetary value other than physical currency; or
 (b) that gives access to monetary value stored in a form other than physical currency; or
 (c) that is prescribed by the AML/CTF Rules;
but does not include:
 (d) a debit card or a credit card; or
 (e) an account for the purposes of items 1 to 3 of table 1 in section 6 or items 11 to 13 of table 3 in section 6; or
 (f) unless prescribed by the AML/CTF Rules for the purposes of paragraph (c):
 (i) a thing that is intended to give access to monetary value in a debit card or credit card account; or
 (ii) a gaming chip or token, or a betting instrument; or
 (iii) a virtual asset (whether or not pegged to any currency); or
 (iv) a thing that stores, or gives access to, virtual assets (whether or not pegged to any currency); or
 (v) a card or other thing that is only used to store or access monetary value for the purposes of purchasing an entry into a lottery or redeeming winnings in respect of a lottery, where the monetary value is denominated in a currency, or is pegged by its issuer to a currency, stored in a form other than physical currency; or
 (g) a thing that, under the AML/CTF Rules, is taken not to be a stored value card.