Document ID: chunk:federal_register_of_legislation:F2024C01198:body:0:p69
Version: federal_register_of_legislation:F2024C01198
Segment Type: other
Provision Reference: 
Character Range: 191553–194594

11.1       These Rules are made under section 229 of the AML/CTF Act for the purposes of subsections 47(1), 47(2) and 247(4) of that Act.

Reporting and lodgment periods

     11.2 A reporting period is specified to be each successive period of 12 months beginning on 1 January and ending on 31 December.

     11.3 The lodgment period is specified to be the period of 3 months beginning at the end of each successive reporting period.

Exemption from compliance reporting

     11.4       For the purposes of subsection 247(4) of the AML/CTF Act, subsections 47(1) and 47(2) of that Act do not apply in circumstances where the reporting entity:

         (1) only provided designated services during the reporting period of the kind set out in items 31 and 32 of the table in subsection 6(2) of the AML/CTF Act as a registered remittance affiliate; and

      (2) did not provide any other designated service.

Reporting entities should note that in relation to activities they undertake to comply with the AML/CTF Act, they will have obligations under the Privacy Act 1988, including the requirement to comply with the Australian Privacy Principles, even if they would otherwise be exempt from the Privacy Act. For further information about these obligations, please go to http://www.oaic.gov.au or call 1300 363 992.

CHAPTER 12 Electronic funds transfer instructions

     12.1 These Anti‑Money Laundering and Counter‑Terrorism Financing Rules (Rules) are made pursuant to section 229 of the Anti‑Money Laundering and Counter‑Terrorism Financing Act 2006 (AML/CTF Act) for subparagraph 70(a)(i) of that Act.

     12.2 For subparagraph 70(a)(i) of the AML/CTF Act, the following kind of transfer instruction is specified:

     (1) a transfer instruction where money is to be paid by use of a credit card.

Reporting entities should note that in relation to activities they undertake to comply with the AML/CTF Act, they will have obligations under the Privacy Act 1988, including the requirement to comply with the Australian Privacy Principles, even if they would otherwise be exempt from the Privacy Act. For further information about these obligations, please go to http://www.oaic.gov.au or call 1300 363 992.
CHAPTER 13 Approved third‑party bill payment system

     13.1 These Anti‑Money Laundering and Counter‑Terrorism Financing Rules (Rules) are made pursuant to section 229 of the Anti‑Money Laundering and Counter‑Terrorism Financing Act 2006 (AML/CTF Act) for the definition of 'approved third‑party bill payment system' in section 5 of that Act.

     13.2 For the definition of 'approved third‑party bill payment system' in section 5 of the AML/CTF Act, the following bill payment systems are prescribed:

         (1) BPAY;

         (2) DEFT; and

         (3) The Australian Payments Clearing Association Limited's direct entry system.

     13.3 In these Rules:

         (1) 'BPAY' means a national bill payment service provided by banks, building societies and credit unions registered with