Document ID: chunk:federal_register_of_legislation:C2024A00110:clause:2_30:p2
Version: federal_register_of_legislation:C2024A00110
Segment Type: clause
Provision Reference: sch 2 cl 30 (pt 2/2)
Character Range: 77869–80387

for the purposes of any of those provisions may make different provision in relation to different classes of customers, including:
 (a) customers in relation to whom simplified due diligence measures may be taken in accordance with section 31; and
 (b) customers in relation to whom enhanced customer due diligence measures must be undertaken in accordance with section 32.
Note: This subsection also does not limit subsection 13(3) of the Legislation Act 2003 or subsection 33(3AB) of the Acts Interpretation Act 1901: see section 249.
 (5) For the purposes of this section, unusual transactions and behaviours of a customer include the following:
 (a) unusually large or complex transactions relating to the customer;
 (b) transactions and behaviours that are part of an unusual pattern of transactions and behaviours relating to the customer;
 (c) transactions and behaviours that have no apparent economic or lawful purpose;
 (d) transactions and behaviours that are inconsistent with what the reporting entity reasonably knows about any of the following:
 (i) the customer;
 (ii) the nature and purpose of the business relationship;
 (iii) the ML/TF risk of the customer;
 (iv) where relevant, the customer's source of funds or source of wealth.
 (6) Subsection (1) is a civil penalty provision.
 (7) A reporting entity that contravenes subsection (1) in relation to a customer commits a separate contravention of that subsection in respect of each designated service that the reporting entity provides to the customer at or through a permanent establishment of the reporting entity in Australia.
 (8) A reporting entity that contravenes subsection (1) in relation to a customer commits a separate contravention of that subsection on each day that the reporting entity provides designated services to the customer at or through a permanent establishment of the reporting entity in a foreign country.

Registered remittance affiliates
 (9) If an obligation is imposed by subsection (1) on a reporting entity in its capacity as a registered remittance affiliate of a registered remittance network provider, the obligation may be discharged by the registered remittance network provider.

Exemption
 (10) This section does not apply to a designated service covered by item 54 of table 1 in section 6.
Note: Item 54 of table 1 in section 6 covers a holder of an Australian financial services licence who arranges for a person to receive a designated service.

Division 4—Simplified and enhanced customer due diligence